<\/p>\n
Edwin Alfred Provencal<\/em><\/strong><\/p>\n The Bulk Oil Storage and Transportation (BOST) has clarified the statement made by its Managing Director, Edwin Alfred Provencal on the country\u2019s fuel cover.<\/p>\n According to the statement released by the Corporate Communications and External Affairs, there\u00a0\u00a0\u00a0\u00a0\u00a0 is no such thing as an eminent shortage of Petroleum products in the country in the days ahead.<\/p>\n It has therefore described a publication attributing a prediction of eminent fuel shortage \u00a0 in the country to the BOST MD is unfounded.<\/p>\n It explained that while on a morning show on September 19, 2022, Mr. Provencal passed a comment on the strategic stocks of the nation stating, \u201cas we speak there are no strategic stocks in storage.<\/p>\n The strategic stocks levy was zeroed out in the year 2006. The fuel stocks in our\u00a0\u00a0\u00a0\u00a0 tanks are financed through arrangements\u00a0\u00a0 with financial institutions which require\u00a0\u00a0 we sell\u00a0 within a reasonable time to avoid refinancing.\u201d<\/p>\n It further went on, \u201cInstead of the expected minimum of six weeks of national demand in storage as per the second mandate, BOST currently has stocks which can\u00a0 only last\u00a0 thirteen \u00a0(13) days in\u00a0 the event no further imports of products are carried\u201d.<\/p>\n The statement thus noted that the reference\u00a0\u00a0\u00a0\u00a0 to stocks was in reference to BOST owned products in its tanks.<\/p>\n \u201cAt any material moment, the total quantities of product available in the country, thus across all tank farms as tracked by the National Petroleum Authority, NPA, includes BOST stocks and stocks of private Bulk Distribution Companies, BDCs,\u201d it added.<\/p>\n It said the NPA estimates that the total volumes available in country as at September 20 2022, is equivalent to 43 days of national demand.<\/p>\n \u201cOf the quantity, BOST holds what can last thirteen days whilst the BDCs together are\u00a0 holding close to thirty (30) days of national demand.<\/p>\n The publication is therefore misleading. It regulates BOST stocks to total product stocks\u00a0 available in country and concludes that there is eminent danger of product shortage,\u201d it said.<\/p>\n By Jamila Akweley Okertchiri<\/strong><\/p>\n \n\t<\/div>\n","protected":false},"excerpt":{"rendered":" Edwin Alfred Provencal The Bulk Oil Storage and Transportation (BOST) has clarified the statement made by its Managing Director, Edwin Alfred Provencal on the country\u2019s fuel cover. According to the statement released by the Corporate Communications and External Affairs, there\u00a0\u00a0\u00a0\u00a0\u00a0 is no such thing as an eminent shortage of Petroleum products in the country in […]<\/p>\n","protected":false},"author":1,"featured_media":1131756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[5042,4903,2652,599,2126],"class_list":["post-1209071","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bost","tag-clarifies","tag-cover","tag-fuel","tag-statement"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1209071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1209071"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1209071\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1209071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1209071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1209071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}