Bulk Energy Storage and Transportation Limited, formerly recognized as Bulk Oil Storage and Transportation Limited Company (BOST), has issued a response to recent assertions linking the Gold-for-Oil policy to the alleged importation of manganese-laden gasoline into the Ghanaian market.
The company’s rejoinder, prompted by a reportage on modernghana.com and subsequent discussions on social media platforms, sought to clarify its position and dispel any emerging misinformation.
In a nuanced and comprehensive rejoinder, Bulk Energy Storage and Transportation Limited tackled key points to assuage concerns and uphold its commitment to transparency and operational excellence.
The company in its statement, affirmed its role in importing products on behalf of the government under the Gold-for-Oil policy, emphasizing the strategic nature of the initiative aimed at reducing local product prices and managing foreign currency demand.
Further asserting adherence to stringent regulations set by the National Petroleum Authority (NPA) with the Ghana Standards Authority (GSA) conducting rigorous component tests to ensure compliance before product discharge.
The company categorically denied importing any product under the policy that falls outside NPA regulations and GSA specifications, asserting an unblemished track record, having successfully imported twenty-three cargoes under the policy, all of which passed quality tests administered by the GSA.
The company made an appeal to the public to disregard claims regarding manganese-laden fuel urging trust in regulatory authorities and assuring the public that investigations would unveil the true source of any alleged problematic product.
Bulk Energy Storage and Transportation Limited in the statement underscored the positive impact of the Gold-for-Oil policy, citing its role in stabilizing forex rates and mitigating the impact of global market price fluctuations on the local market.
The company concluded its statement by reiterating its commitment to excellence, innovation, and sustainability. It emphasized its ongoing role as a trusted partner for energy storage and transportation needs within the country.
About Bulk Energy Storage and Transportation Limited Company
Bulk Energy Storage and Transportation Limited Company (formerly known as Bulk Oil Storage and Transportation Limited Company, BOST) is a state-owned company established in 1993 with a mandate to build a network of infrastructure for the storage and distribution of petroleum products across the country.
It is also tasked to build strategic stocks for a minimum of six weeks of national demand and twelve weeks of same in the medium to long term.
With a focus on excellence, innovation, and sustainability, BOST continues to be a trusted partner for all energy storage and transportation needs of Ghana.
Source:norvanreports