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Business News of Tuesday, 27 June 2017

Source: starrfmonline.com

Prosecute officials of BOST over contaminated fuel – COPEC

Bulk Oil Storage and Transport Company Limited (BOST) Bulk Oil Storage and Transport Company Limited (BOST)

The Chamber of Petroleum Consumers is demanding for the prosecution of officials of BOST over the sale of some 5 million liters of contaminated fuel.

BOST had earlier sanctioned the sale of the contaminated fuel out of a number of options after considering that to be economically prudent.

According to the Petroleum Chamber, a meeting convened by the National Petroleum Authority demanded that the transaction should be halted and a recall of some 421,000 liters of the fuel which have already been discharged.

But its investigations have proven that not a single liter of the contaminated fuel has been returned, with some being sold at some pumps across the country.

The Executive Secretary of the Chamber, Duncan Amoah said the fuel is a serious threat to vehicles who use them.

“For most vehicles the moment you put such products into it, the vehicle will refuse to move altogether so indeed it is pointless to every vehicle so as it stands now we cannot even authenticate that 421,000 liters that went out of BOST depots between Monday and Wednesday last week have indeed returned, not a litre have returned.

“What are they doing with this quantum of Petroleum products in the system. BOST officials will not get away with it. Authorities should call its management into order immediately,” Amoah said.