Beware as BOST releases contaminated Fuel onto the Market – COPEC cautions

The Bulk Oil Storage and Transportation (BOST) has over the past four (4) days been all over the airwaves struggling to justify the reckless sale and discharge of over 5million litres of contaminated fuel products of both petrol and diesel onto the Ghanaian market.
A section of management including the Managing Director have been all over the media space trying to defend this sale claiming they were adviced on 3 options but outright sale and discharge of over 5million litres was the most responsible of all three options.
Among these three options as catalogued by Bost were
1)..undertaking to clean or blend the supposed contaminated products to make  wholesome or good for the purposes for which the products were originally intended for.
2. Gradual injection of the contaminated products into other higher spec products of same to neutralize contaminants.
3) devaluing and outright sale of all 5million as slurdge or slop.
One would have thought a company like BOST, will, at all times work with the public interest as the primary objective, but the selfish interests and greed of some management persons including the MD seem to have taken the best part in this cruel transaction without any proper prior or post sale and discharge impact assessment done.
All 5million litres have since been signed off to an individual company called Movenpina at ghc1/litre as movenpina subsequently resells to other players for ghc1.30/litre, it is this figure BOST is banking its defense of this shameless transaction on, to suggest they have taken an economically prudent decision never seen before in the oil industry, forgetting no management in the history of the comapny nor the much bigger oil firms across the world will ever devalue, dislodge and sell cheaply over 5million litres as slop or contaminated.
The Managing Director in his initial public defense of this poor judgement and recklessness have sought to indict the Regulator, The National Petroleum Authority by suggesting the (NPA) had duly sanctioned and authorized the sale of over 5million litres of contaminated products to a company with no track record in the handling of such nor storage facility to keep same.
A meeting on Friday between the Regulator, BOST Md and some key persons however conclusively condemned the transaction and called for its immediate reversal together with a recall of the over 421,000 litres already discharged onto the market.
Our investigations till this date can confirm not a single litre of this contaminated products discharged has been returned to the Accra Plains Depot (APD) of BOST in Tema where it was loaded from between Monday and Wednesday of last week.
Further fueling our suspicions that the products have been released and is currently being sold at some pumps across the country.
Copec is calling on the good people of the country to help track and arrest any fuel station dealer found to be selling these contaminated products by reporting to the NPA and the other Authorities.
Copec is further calling on  Authorities to immediately call the Managing Director of BOST and his cronies together with other highly compromised management members of same to order to forestall any further dangerous recklesness.
Samson Addae
Research, Pricing and Monitoring
Copec Ghana

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