{"id":467652,"date":"2018-02-26T11:11:18","date_gmt":"2018-02-26T11:11:18","guid":{"rendered":"https:\/\/ghana-mma.com\/2018\/02\/26\/bost-states-record-on-sale-of-crude-oil\/"},"modified":"2018-02-26T11:11:18","modified_gmt":"2018-02-26T11:11:18","slug":"bost-states-record-on-sale-of-crude-oil","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2018\/02\/26\/bost-states-record-on-sale-of-crude-oil\/","title":{"rendered":"BOST states record on sale of crude oil"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Monday, 26 February 2018<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>thefinderonline.com<\/p>\n<p>2018-02-26<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/07\/86968960.295.jpg\" alt=\"Alfred Obeng\" title=\"Alfred Obeng\" width=\"295\" height=\"248\" \/><span class=\"image_caption\"><span>Alfred Obeng, BOST MD<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125817929577\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125817929577\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/1519643478_476_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\">The Bulk Oil Storage and Transportation Company Limited (BOST) says it sold 942,000 barrel of crude oil to raise $51.3 million ($51,386,100) to defray part of the company\u2019s debts.<\/p>\n<p>According to BOST, in September 2017, when the crude oil was sold, the average price of the commodity on the world market was $56.55.<\/p>\n<p>However, BOST gave a discount of $2 per barrel and sold the product at $54.55 per barrel.<\/p>\n<p>BOST, therefore, rejected reports indicating that at the time of the sale, the price of crude oil on the world market was $62.<\/p>\n<p>A statement issued by Media Relations Manager of BOST, Nana Akua Adubea Obeng, said the crude was sold to BB Energy as Free on Board (FOB).<\/p>\n<p>According to her, $27.2 million ($27,208,016.13) of the money was used to defray BOST\u2019s indebtedness to British Petroleum (BP).<\/p>\n<p>Also, she said $15 million was also used to defray BOST\u2019s debt to Mocoh Energy.<\/p>\n<p>She explained that BB, which purchased the crude oil, paid $7 million into BOST\u2019s current account in Ghana with BOST\u2019s UMB account at the head office, which can also be verified.<\/p>\n<p>Obeng stated that the Finance Department of BOST has done the accounting and issued the final invoice to BB Energy, and as result, BB would make additional payment of $2.1 million ($2,178,084) as final payment to BOST to close the transaction.<\/p>\n<p>\u201cThe final payment of invoice is always done when the final and total product is discharged or taken from the tank where the exact quantity is determined on the outturn report as certified by a third party.<\/p>\n<p>\u201cThe board and management of BOST encourage all media houses, civil society groups and interested individuals to always avail themselves of the open-door policy of the company to verify information they receive about the company\u201d, she added.<\/p>\n<p><!-- uploaded by: 38 updated by: -1 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Monday, 26 February 2018 Source: thefinderonline.com 2018-02-26 Alfred Obeng, BOST MD The Bulk Oil Storage and Transportation Company Limited (BOST) says it sold 942,000 barrel of crude oil to raise $51.3 million ($51,386,100) to defray part of the company\u2019s debts. According to BOST, in September 2017, when the crude oil was sold, [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":397354,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-467652","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/467652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/comments?post=467652"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/467652\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/media?parent=467652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/categories?post=467652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/tags?post=467652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}