Commercialise and list BOST on stock exchange – ACEP proposes

The Africa Centre for Energy Policy (ACEP) is making a strong case for the commercialisation of the Bulk Oil Storage and Transportation Company (BOST) and its eventual listing on the Ghana Stock Exchange.

The energy think tank argues that BOST collects a GHp 12 margin on every litre of petroleum to sustain its operations and maintain strategic reserves—a mandate ACEP claims the company has failed to fulfil.

ACEP further asserts that BOST has moved away from its core responsibilities, now controlling approximately 20% of the petroleum import market through the Gold for Oil program.

In addition, BOST reportedly receives nearly GHȼ600 million annually from margins on petroleum products, all while competing with private businesses subject to taxation.

Kodzo Yaotse, Policy Lead for Petroleum and Conventional Energy at ACEP, called for a reevaluation of BOST’s operations during a media briefing on “Downstream Petroleum Products Taxation: A Call to Action” on January 15.

“The market we operate in now shows that we do not need BOST. Or, if we are to keep BOST, we should commercialize it and list it on the stock exchange,” Yaotse said. “This will ensure transparency and accountability in BOST operations while reducing the burden on consumers. That’s another GHp 0.12 removed from payments,” he added.