Energy minister sets up committee to investigate BOST – TSL deal

The minister of Energy and Petroleum Emmanuel Armah Kofi Buah has directed that a committee be set up to look into the TSL – BOST deal.

The committee will comprise all parties involved in the matter.

The committee is expected to come up with its findings within a week

This was arrived at after the minister, his deputy and officials of the Ministry, the Chairman and CEO of Bulk Oil Storage and Transport Company (BOST) and Ghana Chamber of Bulk Oil distributors met over the matter on Friday.

The meeting follows the Chamber’s petition to the Minister to halt or reverse the decision of BOST to transfer the management of storage tanks to TSL Logistics.

According to the chamber the deal violates Ghana’s local content laws and will cede control of a strategic national resource, to a Nigerian-owned company, pointing out the potential risks in the event of a major dispute with Nigeria, with the example of the shortfall in supply of gas through the West Africa Gas Pipeline.

Earlier there were reports that the contract had not been signed but the Energy minister confirmed the signing of the contract as well as his approval of the decision by BOST to outsource its depot management in principle.

According to him the deal was approved to stop the growing losses at BOST.

Meanwhile BOST has also confirmed it did not invite the BDCs to partake in the contracting process because it was of the opinion that involving BDCs will lead to a conflict of interest.

But the CEO of the chamber says the concern would have been cured had the Chamber been more engaged.

By:  Vivian Kai Mensah/