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Wednesday 24 May 2017

2017-05-23

[B] Tullow eyes new fields beyond Jubilee & TEN
[B] ECG concession: bidders reduced to 6; MIDA sets eyes on financially viable bidde
[B] Former MP demands details on the 150 investors for ‘1-district, 1-factory'
[B] We need power to turn economy around – Agyarko
[S] Akufo-Addo's changes to ECG 'sale' agreement quite impressive - PUWU
[N] Kumbuor approved military protection for Ukraine, Russia galamseyers – MP
[N] 9 cars burnt, shops destroyed in a fire outbreak at Suame Magazine
[N] I insist Baba Jamal is involved in galamsey - Wontumi
[N] Man found dead in an abandoned dam
[N] 495 allied health professionals get financial clearance
[N] Spio Garbrah should be commended for GSA scandal investigations - Sorogho
[N] Alex Segbefia urges prosecution of culprits in Central Medical Stores fire
[N] Crentsil and family squandered GSA funds – PRO
[N] Ghana needs measures to stop illegal migration - Dr Ocansey
[N] Three (3) Ghana Gas helicopters missing
[N] Military protecting illegal mining sites – Amewu
[N] Amewu arrest 4 for engaging in galamsey at Amadaa
[N] Pastor, fetish priest clash over juju money

2017-05-22

[S] I lose nothing over Ghana banishment – KP Boateng
[S] Tony Baffoe urges government to create fund for Black Starlets
[B] Dumsor hit Vodafone Ghana badly - CEO
[B] Government to invest 30% only in 'One-District One-Factory' - Alan Kyeremanten
[B] Dollar has taken a commanding lead again
[B] Atuabo project was bloated by over $40m – Dr. Manteaw
[B] ECG using outdated methods to recover debts - NDC MP
[B] BoG reduces policy rate to 22.5%
[N] I’m not naive about corruption – Akufo-Addo
[N] Police begin manhunt for Tatale robbers
[N] Teenage pregnancy declines in Ashanti
[N] $13.9 million Veep's residence abandoned?
[N] UCC sued over suspension of 22 students
[N] Two fake soldiers arrested
[N] Otumfuo supports ban on Galamsey
[N] Government worried about Alavanyo-Nkonya killings – VR Minister  
[N] Politicians mourn with Woyome
[N] NDC chair, 4 robbers and 2 others killed in robbery gun battle
[N] 15 'corrupt' customs officers fired
[N] 3 robbers killed in shootout with police
[N] Girl, 16, dies after committing abortion
[N] Prof. Badu Akosa can't be our Chief – Kwahu Queen Mother
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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



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