Investing in BOST will help in times of fuel unavailability - NAPO

Dr Matthew Opoku Prempeh12121212121212121133121.jpeg Dr.Matthew Opoku Prempeh is Minister for Energy

Mon, 18 Apr 2022 Source: www.ghanaweb.com

Enough BOST depots will help Ghana in times of struggle

BOST is our security as a country, NAPO

Support BOST to manage its resources efficiently

Energy Minister, Dr Matthew Opoku Prempeh, has stated that the Bulk Oil Storage and Transportation (BOST) if properly supported will help Ghana in solving issues of petroleum shortage when the need arises.

According to him, BOST needs to get more storage capacity to be able to store fuel for the country.

Dr Prempeh said, “When it becomes critical like now, we’re all running to BOST; if there’s a company that’s supporting fuel availability in the system now, it is BOST. But in times of plenty, everybody turns against BOST; ‘why are you collecting BOST levy, why are you collecting BOST margin.’ BOST is our security as a country and it needs to provide more storage such that we get six weeks of strategic stocks."

The sector minister who was speaking at a press briefing explained that “What I mean by six weeks of strategic stocks is that the government doesn’t have the money to go and buy and store what we’ll use for six weeks. But if BOST has depots that can put in six weeks of strategic stocks from private people then, in times of crisis, the government can have the first stake in those fuels even though we have to pay, because you can have the money and there’s no fuel.

“But if we can implement the BOST strategic stocks, then if we have the money, there’ll be available fuel. So, we all have to realise that it is our collective interest to support BOST to become more efficient and more profitable in managing its resources for the betterment of all of us,” he added.

Meanwhile, BOST had in February this year, stated that it will spend GH¢200 million on a number of projects aimed at transforming the petroleum sector.

BOST said it will automate and upgrade all of its depots to bring them up to modern standards to deliver improved efficiency.

The depots include Tema in the Greater Accra Region, Buipe in the Gonja District in the Savanna Region, Kumasi, the Ashanti Regional capital, and Bolgatanga, the Upper East Regional capital.

BOST has other depots in Akosombo and the famous Maame Water Depot at Adome, both in the Eastern Region.

Source: www.ghanaweb.com
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