George Mensah Okley
Managing Director, BOST
The Bulk Oil Storage and Transportation Company Limited (BOST) was incorporated in December 1993 as a private limited liability company with the Ghanaian government as its sole shareholder. Here, George Mensah Okley explains the company's plans.
What is BOSTs mandate?
To develop a network of storage tanks, pipelines and other bulk transportation infrastructure throughout the country. We keep strategic reserve stocks for Ghana and manage the 'zonalization' policy of the National Petroleum Authority (NPA).
What do you want to achieve for BOST as its new Managing Director?
I want to set up a world-class trading department and form a strategic partnership with GO Energy and the Ghana Oil Company to ensure a stable and long-term price outlook at the pump. We also want co-operation with the private sector. We want to leverage our current strength and infrastructure to ensure the cost of doing business in the downstream will be as low as practicable.
What is your position on building strategic stocks?
BOST must build strategic reserve stocks to meet a minimum of six weeks of national consumption in the short and medium term, increasing to 12 weeks in the long term.
Due to the fact that petroleum products have a limited shelf life, BOST is required to dispose stored products as and when needed, and replenish the stocks to ensure their viability. This is the reason why the mandate of strategic stock-keeping to meet national demand over the stated period cannot be clearly separated from active trading in petroleum products.
How does the BOST network operate?
Finished petroleum products (gasoil and gasoline) enter the BOST network from either the Conventional Buoy Mooring (CBM) at Tema and/or from the Tema Oil Refinery (TOR). Petroleum products are transported between BOST's coastal and regional depots using a combination of pipelines, river barges and Bulk Road Vehicles (BRVs).
There is a twin 6" pipeline that connects TOR to Accra Plains Depot (APD). APD is also connected to the Mami Water Depot via another 63km 6" multiple products pipeline, which continues to the Akosombo Depot.
From the Akosombo Depot, petroleum products are loaded onto river barges and transported to Buipe via the Volta Lake. The Buipe depot is connected to the Bolgatanga depot via a 261km 8" multiple products pipeline.
What about the pipeline network?
BOST has about 354km of petroleum pipelines of varying sizes throughout the country...