Executive Director of the Chamber of Petroleum Consumers (COPEC) Duncan Amoah has congratulated President Nana Addo Dankwa Akufo-Addo for sacking the Managing Director of the Bulk Oil Storage and Transport (BOST) Company,

He said Nana Addo firing beleaguered MD is a clear indication of his fight against corruption.

In a statement Monday congratulating the President on his decision, he said, "The president has indeed demonstrated his aversion for corruption and we believe all others in other key positions will take a cue and not engage in acts that only serves their pockets to the disadvantage of the institutions they have been appointed to."

On Wednesday, June 6, 2018, Nana Addo sacked CEO of the BOST Company, Alfred Obeng Boateng.

He was asked to hand over to one George Mensah Okley.

Obeng has come under intense pressure to resign following the exposé that BOST had sold 5 million liters of contaminated fuel to two unlicensed companies, Zup Oil and Movenpiina Oil.

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He has been cleared of any wrongdoing by the Bureau of National Investigations (BNI) and National Security in the controversial sale of five million litres of off-spec fuel.

The MD came under attack over the decision to sell five million litres of contaminated fuel to Movenpiina, a company said to have been incorporated barely a month after it negotiated the deal with BOST and without NPA license.

The joint investigations conducted by the BNI and National Security found nothing wrong with the decision to sell the contaminated fuel to Movenpiina Company Limited.

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The investigations also established no direct relationship between MD of BOST, Alfred Obeng, and Movenpiina.

COPEC in the statement further asserted that, "It is COPEC’s firm belief that the president’s master stroke to give BOST a new MD will not only boost public confidence but also boost the confidence of the business community in the company to ensure the Global Major Oil Traders all of whom had withdrawn from carrying out any business with the company, will now find a good reason to renew business operations with BOST."

Below is the full statement

CHAMBER OF PETROLEUM CONSUMERS-GHANA

BOST HAS BEEN GIVEN A NEW LEASE OF LIFE

THANK YOU MR PRESIDENT.

The Bulk Storage and Transportation (BOST) under the immediate past Managing Director-Alfred Obeng Boateng has over the past one year been saddled with one serious scandal after the other, following largely from series of bad management decisions by the past Managing Director.

Scandals such as the decision to carelessly dump over 5 million litres of contaminated oil onto the market through unlicensed firms received strong bashing, opposition and disgust from Copec, Acep, IES and the entire public.

Ghanaians would have thought, that huge scandal would have made the past MD to sit up and desist from any further acts against the Public good and the company he had been appointed to head  but that was not to be.

He single handedly decides a few months later to go trading off and selling over 1.8 million barrels to two companies at a rate way below the then prevailing market rates leading to huge financial losses to BOST itself and the state at large.

Copec once again raised issue with this unfortunate sale after an initial publication by the Herald newspaper.

Several press conferences by a section of the staff aligned to the past Md failed to convince the discerning public who simply could not understand how crude that Ghana paid +$4.6 /barrel for, was sold cheaply 8 months after for -$2 /barrel at a time when world market prices were only going up and we could have easily made a lot more if we had allowed others to bid.

Subsequent discussions shifted from the substance of the matter to personalisation of a national issue bothering on apparent corruption and wrongful disposal of a national resource contrary to the provisions of the Public Asset Disposal Act.

READ MORE: Nana Addo sacks BOST MD, Alfred Obeng Boateng

Death threats and name callings followed with very wild and unsubstantiated allegations being thrown out there to suggest some of us had personal interests in the matter which clearly was far from the truth, part of the death threats ended in court.

Thankfully several public spirited lawyers including the distinguished Lawyer Martin Kpebu came to our defense for no fee whatsoever.

Our stakeholder Council remained resolute and unwavering though some of them were called unpalatable names in the heat of the discussions.

For the avoidance of doubt, CopecGhana has been involved strongly in several serious matters of serious national importance all of which never bothered on anything personal but at all times for the public good and this particular one was no different.

Critical Issues such as

Several other lead discussions on TOR must work, NPA, Ghana Gas, GCMC, The Ministry of Energy etc has been done without any personal interests whatsoever as we never raise these issues out of malice.

Our records from the former regime to the current regime will amply demonstrate our commitment to ensuring public good at all times.

The President’s Inaugural address admonishing all of us to be citizens and not spectators continues to serve a good catalyst for our continuous appraisal of critical state institutions whose gain or loss affects the ordinary Ghanaian directly.

It is our firm belief that the president’s master stroke to give BOST a new MD will not only boost public confidence but also boost the confidence of the business community in the company to ensure the Global Major Oil  Traders all of whom had withdrawn from carrying out any business with the company, will now find a good reason to renew business operations with BOST.

It is our firm belief further that the new MD who until his appointment also served as the Director-Upstream at the Ministry of Energy will bring his rich experiences to bear on the company as we are aware some of the very senior experienced hands who have been at the company are being prepared to Deputize and provide institutional support for the new administration.

We use this opportunity to also commend the BOST Board for standing up to the past MD in his bad dealings that only brought bad press to the company.

The president has indeed demonstrated his aversion for corruption and we believe all others in other key positions will take a cue and not engage in acts that only serves their pockets to the disadvantage of the institutions they have been appointed to.

Copec and other allied bodies will continue to monitor events downstream and will at all times make useful contributions for policy makers to formulate and improve standards in the oil industry in Ghana.

Our eyes and ears continue to be firmly fixed on key petroleum matters and we will not hesitate at any point in bringing to the attention of Authorities of any critical issue that affects our collective well being and the public good at all times.

We finally call on the president to ensure any wrongful gains made by the past MD is returned to the state after which he can be redeployed to anywhere his publishing experiences could be useful for.

Once again we say THANK you Mr President for giving BOST a new lease of life.

Signed

Duncan Amoah

Executive Secretary

CopecGhana