Business News of Thursday, 30 December 2021
Source: www.ghanaweb.live
2021-12-30BOST exported over 160 trucks of petroleum products in 2021 – MD
Edwin Provencal (2nd from the right) with some board and management members of BOST
BOST Bolgatanga Depot critical to Ghana’s development - Edwin Provencal
BOST Bolgatanga Depot would earn Ghana much needed foreign exchange
BOST achieved a tremendous turnover in 2021 - Edwin Provencal
Managing Director of BOST, Edwin Provencal, has disclosed that the Bolgatanga depot of his entity exported over 160 trucks of petroleum products to countries in West
Read full articleAfrica.
Speaking at the end-of-year assessment stakeholder engagement the Edwin Provencal said the Bost Bolgatanga depot which began re-exportation of petroleum products in March 2021 was critical to Ghana’s economic development.
He said the export earnings from the depot would help Ghana earn more foreign exchange, which will help reduce the rate of depreciation of the Ghana cedi.
He said should the Bolgatanga depot be used to its full capacity, it will directly impact Ghana’s economy; adding that the depot was well positioned to benefit from the African Continental Free Trade Agreement (AfCFTA)
According to him, Bost (Bulk Oil Storage and Transportation Company Limited) had a huge profit in 2021.
He said the profit made was due to the efficient and prudent management of the entity, which focused on the rehabilitation of the facilities of the company to ensure security, safety, and profit.
“To manage the business of Storage and Transmission of fuels focusing on excellence in Security, Safety, and Profitability BOST undertook the rehabilitation of the Accra Plan Depot and initiated the Accra Plan Administration project.
“It also repaired the B2P3 pipeline, refurbishment of ‘TAPP’ pipeline from Tema to Akosombo and installed surveillance system on the TAPP, ongoing works on the Bolgatanga BRV park, and Kumasi Depot rehabilitation,” he said.
Edwin Provencal added that the company was also installing mass flowmeters, pumps, and loading arms in some of its facilities.
He further stated that BOST was building Liquefied Petroleum Gas (LPG) tanks at all its depots to help it meet the growing demand for LPG gas products.
