Business News of Wednesday, 28 June 2017

Source: GNA

Energy Ministry to set-up committee to probe BOST

Boakye Agyarko, Minister of Energy Boakye Agyarko, Minister of Energy

The Ministry of Energy is in the process of setting up an eight-member investigative committee to look into the issue of the release of five million litres of off-sec fuel from the Accra Plains Depot of the Bulk Oil Storage and Transport Company (BOST).

Mr Boakye Agyarko, the Minister of Energy, said the Ministry's attention had been drawn to the various media reports on the issue of the release of five million litres of off-sec fuel from the Accra Plains Depot of BOST.

"We have also received a report of the preliminary investigations conducted by the National Petroleum Authority on the issues.

"We wish to assure the public, that the Ministry is determined to ensure that the integrity of the quality of petroleum products supplied in the country is protected,” Mr Boakye Agyarko stated on Wednesday at an ongoing three-day Mid-year Performance Review Workshop of the Ministry at Ada.

"In view of this, the Ministry is in the process of setting up an eight-member investigative committee into the matter," he added.

The terms of reference of the Ministerial Committee would include but not be limited to the following; determine the circumstances that created the off-sec product and to review the procedures undertaken by BOST to evaluate the product.

The rest are ascertain the quality and remaining quantity of the product, to determine if the product could be corrected, if not determine the alternative use for the product and review the transaction.

The composition of the eight-member ministerial investigative committee shall include representatives of the National Petroleum Authority, Tema Oil Refinery, Ghana Standards Authority and the Bureau of National Investigation.

Others are the Chamber Of Bulk Oil Distributors, Association of Oil Marketing Companies, Energy Commission and representative from the relevant civil society organisations.

The committee, which would have a month to submit its report, would also advise the Ministry on the necessary technical, administrative and legal actions to be taken.

The Minister said the Committee would decide on whether the Acting Managing Director of BOST should step aside or not.