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Tag Archives: Senyo Hosi

Over 600,000 litres of BOST’s contaminated fuel ‘evaporates’

BOST-new

The Bulk Oil Storage and Transportation (BOST) is in the news again, this time over the disappearance of about 600,000 litres of its contaminated fuel. A five-member committee set up by the current Managing Director of BOST, George Mensah Oakley to take stock of five million litres of the off-spec product noticed the disappearance. The committee chaired by the CEO ...

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Cancel non functional oil blocks – ACEP to government

Benjamin Boakye - Executive Director of ACEP

The Africa Center for Energy Policy (ACEP) has called for a review of contracts that are given to companies that are mandated to drill oil in the country. According to the Executive Director of ACEP, Benjamin Boakye, such a move is necessary as most companies that have signed contracts with Ghana after its oil discovery have failed to deliver on ...

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Ghana lost GH¢1.9bn to illegal fuel trade in 2017 – Report

fuel tanker

The Chamber of Bulk Oil Distributors is blaming the persistent issues of illegal fuel trade on what it says is the weak commitment of security agencies in addressing the issue. A latest industry report by the Chamber said the illegal fuel trade cost the country some 1.9 billion cedis in 2017. The report cited three main factors as accounting for ...

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Banks, BDCs to shave off GH¢800m from GH¢1.6bn debt

Mr-Senyo-Hosi

It appears the woes of commercial banks regarding their exposure to Non Performing Loans (NPLs) may not be ending anytime soon with the latest development from the Bulk Oil Distributors regarding their indebtedness to some banks. Information available to Citi Business News indicates that banks that are owed by the Bulk Oil Distributors (BDCs) are to lose at least 800 ...

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Hedge oil revenue to protect Ghana from rising oil prices – Senyo Hosi

Senyo Hosi-CEO Chamber of Bulk Oil Distributors

The Chamber of Bulk Oil Distributors (CBOD) wants the government to introduce new mechanisms to protect the country from the gradual rise in crude oil prices. The Chamber is impressing on the government to among others initiate processes that will stabilize oil revenue. The Chamber argues that this is necessary as Ghana is a net exporter of oil; that means ...

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