President John Mahama has said with the restructuring of the Tema Oil Refinery and revamping of the Bulk Oil Storage and Transportation Company (BOST), Ghana is gradually becoming a petroleum hub in West Africa.
According to him, with all the strategic oil reserve tanks across the country filled to capacity, Ghana is currently holding, perhaps, the highest product inventory in its history.
The President, who was speaking to the youth, mostly students, on the University of Cape Coast campus, noted that government’s investments and policies in the petroleum downstream sector are already yielding positive dividends for the country.
He said: “We have, therefore, had to resort to petroleum exports to create space for fresh products to be unloaded.
“Forty articulated tankers, a day, load from BOST’s Bolgatanga depot bound for Burkina Faso and Mali and these have become a recent export business for BOST. Also recently, BOST won a tender to supply 35,000 tons of petroleum products to Cote d’Ivoire.
“This success story has set Ghana well on the way as a major petroleum distributor in the sub region. Some of TOR’s storage tanks that have been out of service are being refurbished to create additional storage capacity as speedily as possible.”