State-owned Bulk Energy Storage and Transportation Limited Company (BOST) has officially rebranded as BOST Energies, representing a new chapter in its operations as it aligns with Ghana’s energy transition agenda.

BOST is the country's strategic energy infrastructure company, managing national fuel reserves, depots, pipelines, and ensuring reliable fuel distribution.

The announcement was made during the company’s 2025 Annual General Meeting (AGM) held at its head office in Accra on August 27, 2025.

The meeting brought together key stakeholders, including the Minister for Energy and Green Transition, the Director-General of the State Interests and Governance Authority (SIGA), the CEO of the National Petroleum Authority, representatives from the Ministry of Finance, the Ghana Audit Service, and members of the company’s board and management.

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In his keynote address, the Minister of Energy and Green Transition, John Abdulai Jinapor commended the company’s leadership for its progress over the past seven months, praising both the board, chaired by Professor Saint Kuttu, and management led by Managing Director, Afetsi Awoonor.

He urged the company to seize a bigger role in the petroleum downstream sector while accelerating its pivot toward clean energy.

“By integrating sustainability into its core business, BOST can lead the way in building a cleaner and more resilient energy future for Ghana,” he stated.

The sector minister added that the state-owned company must “strategically position itself in the petroleum downstream value chain to be a major supplier to the industry.”

Representing SIGA, the Director-General, Professor Kpessa-Whyte called for sharper focus on efficiency and profitability, stressing that government expects BOST to declare dividends by the end of the 2025 financial year.

“The Board and Management must demonstrate accountability not only to SIGA but also to the Ghanaian people who ultimately own this enterprise. Every decision must be justified by its contribution to national development and value creation,” the SIGA Director-General said.

The Board Chairman of BOST Energies, Professor Saint Kuttu on his part reaffirmed the company’s mandate to guarantee Ghana’s strategic petroleum reserves while expanding infrastructure.

He highlighted ongoing investments in rehabilitation, digitalisation, and governance reforms, noting that “good governance remains the bedrock of our performance.”

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“The Board has strengthened its governance structures, improved oversight, and ensured accountability in all facets of the organisation,” he added.

The AGM also adopted BOST’s audited financial statements for 2024, before officially approving the change of name to BOST Energies.

Management explained that the rebrand reflects a broader mission beyond petroleum storage and transportation, with a stronger emphasis on sustainable and cleaner operations.

“This new identity is in direct alignment with the Government of Ghana’s National Energy Transition Framework,” the company said in a statement sighted by GhanaWeb Business.

MA