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Business News of Monday, 2 August 2021


BOST dismisses claims of lack of fuel by tanker drivers

BOST is an oil storage and transportation limited BOST is an oil storage and transportation limited

The Bulk Oil Storage and Transportation Company Limited (BOST) has dismissed claims made by some tanker drivers that its operations are taking a nosedive.

According to BOST, things are instead getting better with asset utilisation, improving from 15 per cent to 85 per cent within two years.

The tanker drivers had petitioned President Nana Addo Dankwa Akufo-Addo about the lack of fuel for them to cart for close to a year now, rendering some of them jobless.

However, in a statement issued over the weekend, BOST explained that, over the past years, its two pipelines and four barges pivotal in the carting of fuel from the south to north had been down. This increased the workload of fuel tankers via road.

“[However] efficient resource utilisation and focused management have resulted in a full repair of all four river barges that were grounded and the two pipelines which had been out of use for close to five years,” the statement said.

“The barges are in full utilisation, and the Buipe-Bolgatanga Petroleum Product Pipeline is in full use,” it added, promising that the Tema-Akosombo pipeline will also be back on stream “by close of the third quarter”.

As a result of this, load for the tankers has reduced as it is “faster and quicker” for the company to cart fuel to the northern part of the country.

It, therefore, urged the public to disregard the media reports and allegations of tanker drivers.

“BOST is in safe hands (a solid board and management team), and things are really getting better: our asset utilisation has improved from a paltry 15% to 85% (including the pipelines and barges) within two years, and we are seeking to bring every single asset which has been lying idle over the last couple of years into operation to maximise value for the 30 million Ghanaians.”