BOST
Building oil reserves

BOST is much more than Ghana’s emergency petroleum lifeline. Also responsible for implementing government policy to ensure stability in supply and price levels of petroleum, its achievements following a 2001 restructure are noteworthy. It brought the first two reserve shipments of petroleum in the country’s history, reorganised the sector by transferring five of its seven storage facilities to Tema Oil Refinery and contributed significantly to deregulation while managing to quadruple its own assets of $50 million over seven years. Most impressive has been its ability to build up six weeks of reserves, something it expects to complete by year’s end 2007, eight years ahead of schedule.

BOST has discovered a niche that may well define Ghana’s economic future – the re-export of fuel. The country’s recent oil discoveries only enhance this position.

Managing Director Addo Yobo says that the demand for tanks from international companies like Shell and Total has increased significantly. “We have been inundated by requests for storage tanks to be built, so we decided that we will set the infrastructure to produce storage tanks for the re-export of fuel from Ghana.”