Business News of 2014-07-14

Buipe Petroleum Storage Depot shut-down

Some Oil Marketing Companies (OMCs) in the Northern Region are calling for the immediate reactivation of the Buipe Petroleum Storage Depot. The facility which is serving the petroleum energy needs of the three regions of the North and parts of the Brong Ahafo Region was shut down November 2013.

Its temporary shut-down according to some Oil Marketing Companies in the Northern is affecting their businesses. Official records showed that the Buipe Petroleum Storage Depot has a capacity of 50 million liters. Out of the 50 million storage capacity, the facilities there can contain 37 million liters of diesel and 13 million liters of petroleum.

Citi News checks uncovered that when the depot was in full operation, there was a daily demand for 800,000 liters of petrol and 700,000 liters of diesel. It was revealed that a maximum of 50 tankers on daily basis off-loaded petroleum products from the facility to their final destinations.

Managing Director of Naagamni Oil Company Limited at Vitting on the Tamale Yendi road, Naatogmah Sugri told Citi News reactivating the facility will cut down the cost of transporting petroleum products from Tema to the north.

A tanker driver, Wahab Mahama said the risk associated with the long journey from Tema to Tamale will be reduced when the facility resumes operation. Managing Director of the Buipe Petroleum Storage Depot, Fred Ayarkwa explained that the facility was shut down for routine maintenance.

He anticipated that operations will resume by the end of September 2014. According to Corporate Communications Manager of Bulk Oil Storage and Transportation Company Limited (BOST), Salifu Nat Acheampong said the company has two ferries on the White Volta carrying petroleum products from Tema to Buipe.

Additionally, there is a giant one on standby docked at Debre in the Central Gonja district for rescue mission. Mr. Acheampong revealed that the ferries more often than not spent eight days from Tema to Buipe. The Buipe Petroleum Storage Depot has two pumping stations with a booster station at Savelugu.

The Savelugu booster station facilitates the transfer of petroleum products to the Bolgatanga Petroleum Storage Depot. There is a constant patrol team moving along the pipelines from Buipe to Savelugu.