GhanaReview International - The Leading Ghanaian News Agency
London New York Accra
GRi Latest News
Tuesday 17 October 2017

2017-10-12

[N] PURC boss, Samuel Sarpong, sacked
[N] Don’t stampede gov’t into closing fuel stations – OMCs
[N] £350k Scandal: Otumfuo clean – Sacked Bank Official
[N] 245 suspected drug peddlers, prostitutes arrested in Ashanti
[N] Don’t follow ‘malicious’ social media – Rawlings advises Media General
[N] Gov’t withdraws Zongo Development Fund bill

2017-10-11

[B] Ghana woos investors at IMF/World Bank Meetings
[B] Hybrid power stations to add 850MW to grid
[N] Agric College Students Picket At MoFA Today
[N] We don’t need cabinet meeting to solve gas explosions – Namoale
[N] Cost of home loans drop to 30.6 %
[B] Ghana’s exports rise to $ 8.9 billion
[N] Gov’t investigating report of Ghanaian ISIS fighters – Majority
[N] Tension in Bimbila ahead of late chief burial Thursday
[N] Akufo-Addo's 'one achievement, one launch' is new NPP strategy
[N] God is the reason - 13-year-old KNUST student says
[N] Workers on the Kejetia market project to lay down tools following threats
[N] Parliament tasks 3 committees to investigate gas explosions
[N] Mansco Gas must compensate explosion victims – Mahama Ayariga
[N] Police accused in Delta Force 13 case

2017-10-10

[B] Airlines upbeat about boost in business
[N] Earlier charges against Delta Forces dropped
[N] SUNDA Int. & TWYFORD Ceramics donate to gas explosion victims
[N] Operation to ban public smoking in Tamale to be activated after six arrested in
[N] AUCC founder launches book about his life as public servant and private citizen

2017-10-09

[S] Ghana Rugby team beats Mauritius in impressive Sevens campaign
[N] Thieves steal car at Legon after man fled from Atomic gas explosion
[N] Fuel explosions: NPA to employ 200 extra safety auditors – Agyarko
[N] Petrochemical workers opposed gov’t's new policy on gas explosions – Abu Ramadan
[N] Kwadaso Agric. College Students boycott lectures over unpaid allowances
[N] Court grants withdrawal of application against lawyer for EC boss
[N] Nana Addo to personally pay for presidential correspondent’s funeral
[N] NDC financiers, others frustrated our fight against 'illegal' fuel stations - Ay
[N] New Ya-Naa Will Be My 1st Year’s Crowning Achievement – Akufo-Addo

2017-10-08

[N] Kwadaso MP visits flood prone areas after heavy down pour
[I] Ellen Johnson Sirleaf Touts Legacy As She Prepares To Step Down  
[N] Wassa Akropong Shooting; 4 Arrested
[N] Brother Of 13-Year-Old KNUST Student To Break Sister’s Record
[N] Encroachment of Owabi Forest cause of flooding at Atafoa- Assemblyman
[N] Kwadaso: building kills 2, 1 in critical condition
... go Back
 
Business

[ 2017-05-17 ]

Ghana Chamber of Bulk Oil Distributors Chief Executive Officer

BDCs, OMCs battle BOST over dumping of products accusation
Bulk Distributing Companies (BDCs) and Oil
Marketing Companies (OMCs) and the Bulk Oil
Storage and Distribution Company Limited (BOST)
are in disagreement over is responsible for
dumping of products that is depriving the country
over of over one billion Cedis.

The Managing Director of BOST, Mr Alfred Obeng
Boateng, blamed BDCs and OMCs for the practice of
dumping, saying that those products commonly ended
up in local filling stations, with which BDCs and
OMCs dealt with.

However, Senyo Hosi, the Chief Executive Officer
of the Ghana Chamber of Bulk Oil Distributors, and
Mr Tizard Ansah, the Risk Management Officer of
the Association of Oil Marketing Companies,
rejected the allegations and said they were rather
fighting the menace.

The exchanges took place yesterday at the National
Policy Summit.

They were speaking on the topic:’Innovations and
Opportunities in Government’s New Energy Sector
Management Programme’.

Mr Boateng announced that Cabinet has directed
that all petroleum products meant for export from
Ghana onto the Sahelian market be channelled
through the BOST.

According to him, the directive which takes effect
next week, is in a bid to clampdown on the dumping
of such products onto the domestic market.

Per the directive, he said, all petroleum products
meant for export to the Sahelian market should be
given to BOST at its APD in Accra, who would then
transport it to its Bolga Depot, where the BDCs
could then pick up the product for delivery to the
final destination.

Mr Boateng said the dumping of petroleum meant for
export onto the domestic market was a major
challenge hence the directive.

He stated that in line with the directive, BOST
intended to expand its depots in Bolga and Buipe
and also begin work on the pipelines to transport
the oil from Accra to those destinations.

The pipelines, he said, would reduce reliance on
road transport for the transportation of the
product, which allowed for the dumping.

Mr Hosi, however, disagreed with the Managing
Director of BOST’s assertion that BDCs and OMCs
were to blame for the dumping.

He maintained that the BDCs were not to blame for
dumping, having been the ones to first raise
concerns of the phenomenon, which led to the
Cabinet decision.

“Filling stations are not BDCs, BDCs don’t run
fuel filling stations; BDCs don’t export, it’s
export licensees who export,” he stated.

Mr Hosi said the BDCs were rather those who
suffered most from such activities, and thus the
recommendations the Chamber made to Cabinet, which
they fully supported.

However, that measure alone, he said, was
inadequate.

Mr Hosi also challenged the figure quoted by the
BOST MD, saying, the figure was inaccurate since
the National Petroleum Authority had estimated the
losses at GH?850 million.

Ansah condemned the blanket allegation by the BOST
MD against the BDCs and OMCs, saying although
there may be bad nuts in the industry, it was
inappropriate to blame the whole industry for the
problem.

He called for better implementation of regulations
in the sector to address the problem.

Ansah also noted that while the directive from
Cabinet was a start in addressing the issue, there
was need for additional measures since dumping
could still take place with the directive by
creating an illegal market in the north or
bringing dumped products back to Accra.

He called for GPS tracking of trucks (BRVs) used
in transporting the products to know where the
products would end up.

Source - thefinderonline.com



... go Back

 
Add YOUR View here

Ghana Review International (GRi) is published by Micromedia Consultants Ltd. T/A MCL - a wholly Ghanaian owned news agency. GRi is an independent publication and is non-aligned to any political party or interest group, within or outside of Ghana. It is a reliable source of information for Ghanaians and non-Ghanaians alike. This magazine will be of interest to any person with an interest in Ghana, Ghanaians and Africans, wherever in the world they live. This website is the on-line arm of the publication. It contains news and reviews on Ghana and the international communities.

All pages are © Copyright Ghana Review International (GRi) 1994 - 2016