The Chief Executive Officer of the Bulk Oil Storage and Transportation (BOST) Company has been invited by the Tema Regional Police over allegations he threatened to take the life of the head of Chamber of Petroleum Consumers (COPEC).

Duncan Amoah claimed to have received threatening messages from Alfred Obeng after he accused the BOST boss of causing financial loss to the state.

He has since called for police protection.

Tema Police Commander DCOP Asomah Hinneh confirmed to Joy News that the police have begun investigations into the matter.

According to him, a letter was sent to Mr Obeng inviting him to appear before the Tema Police to answer questions relating to the threats.

Even before the investigations will officially begin, BOST has dismissed the claim of death threats.

Addressing a press conference in Accra, Tuesday, the head of Fuel Trade Department at BOST, Albert Mantey said allegations of death threats are unfounded they are considering taking legal action.

He also vehemently dismissed allegations by Duncan Amoah that BOST has caused financial loss to the state.

He insisted the allegation by Duncan Amoah were riddled with half-truths and outright ignorance.

Contrary to claims by Duncan Amoah that BOST sold 1.8 million barrels of crude oil to an unlicensed company- BB Energy- at a discounted price which caused financial loss to the state, Mr Mantey insists only 942,000 barrels were sold.

He also insisted that BOST did no wrong in selling the product at a discounted rate of $2 to an internationally recognized company, even if it was not licensed in Ghana.

Background

Duncan Amoah

COPEC is threatening to petition the office of the Special Prosecutor in what it claims is a case of causing financial loss to the state.

According to Duncan Amoah, Ghana lost in excess of 30 million cedis in revenue when BOST decided to sell 1.8 million barrels of crude oil to BB Energy, an unlicensed company.

The losses, he insisted, were recorded at every stage of the value chain from the sale of the crude, to fees for holding the rest of the crude.

The transaction which was undertaken in September last year followed a major scandal involving the sale of some five million litres of contaminated fuel to 38 unlicensed companies.

Duncan Amoah, told Joy News he does not understand why 1.8 million barrels of oil was sold when the initial volume procured was 2 million barrels.

At a time when prices of crude were going up on the world market, BOST sold its product at a discount of 2 dollars, a transaction he found to be intriguing.

He could not also confirm if the difference had been accounted for.

“We do not think if it was his [BOST CEO, Alfred Obeng Boateng's] personal company he would agree to undertake this kind of transaction,” he fired.

But BOST has fired back. Alfred Mantey said it was not out of place to sell the product to BB Energy at a discounted rate.

“If you are buying anything and you are ready to pay cash you can be granted a discount,” he said, suggesting BB Energy paid cash for the barrels of crude oil bought.

He argued the claim that BB Energy was unlicensed was moot and borne out of ignorance.

“If any of you buy a product to Cote D’Ivoire or to any refinery anywhere, do you don’t need a license of that country before your product can be refined?

“TOR can have crude from anywhere and they will refine. Any supplier who will bring crude to TOR doesn’t need a license in Ghana before it can get his product refined at TOR. So that is a total display of ignorance in the industry," Mantey fired back.