The Bulk Oil Storage and Transportation Company, (BOST) yesterday, condemned the Executive Secretary of the Chamber of Petroleum Consumers, (COPEC) Duncan Amoah, for putting out a flimsy allegation of a threat of murder against the company’s CEO.
Speaking to the media at the BOST headquarters in Accra, Albert Mantey, Manager of the Trading Department of the company, said BOST has consulted its lawyers for the allegation of threat of murder which the COPEC man has leveled against him to be taken to court.
On the other issues of causing financial loss to the state, especially through an unlawful discounting in the transaction between BOST and an energy company, Mr. Mantey dismissed the claim as untruth which only exposes the ignorance of Duncan Amoah’s knowledge of the oil industry.
He invited, rather sarcastically, the COPEC man to come and receive lessons on the industry so he does not go about leveling charges recklessly.
There is nothing wrong with discounts in the business of oil and other businesses.
He narrated the series of allegations BOST has suffered at the hands of killjoys over the years pointing out that it is the objective of the company to ensure that Ghanaians, and for that matter, other consumers of the petroleum products, obtain the best.
BOST has striven for the best quality over the years; the reason for the outstanding acceptable fuel emission level originating from its stock, he said.
‘In the commodity business, discounting is allowed. It is not true that it is an illegality as Mr. Amoah is claiming,’ he said. ‘When bulk cash payment is made it is not unusual to make discounts as BOST did.
One does not need to be registered in a country to have its crude oil refined, he said, asking rather rhetorically whether when one goes to a place like Cote d’Ivoire to have one’s crude refined he must register his business first. He said this to dispel one of the many charges leveled by Mr. Amoah.’
BOST, he said, is consistent with reviewing its operations in a bid to maintain its quality standards; the reason it is a subject of malice over the years in the media.
‘Fuel in Ghana is one of the best because of the tolerable emission level and the environmental impact.’
BOST, he went on, makes the necessary upwards price adjustments adding that such gimmicks would not make the company lose focus in what they are expected to do.
‘Such media campaigns would not help matters,’ he said confidently.
Turning to the FOB and CIF modes of trading, he said, whereas the former is about delivery – less insurance and freight – the latter contains same. ‘BOST therefore found it prudent to opt for the former,’ he said.
The reaction of BOST originated from Duncan Amoah’s charge that the company had operated in a manner which had caused financial loss to the state pointing at specific transactions. The COPEC Executive Secretary did not stop there as he accused the BOST boss of threatening to kill him.
By A.R. Gomda