The Bulk Energy Storage and Transportation Company Limited (BOST) has reported a GH¢881 million profit from 2019 to 2023, backed by a total revenue generation of GH¢22.7 billion over the same period. Dr. Edwin Alfred Provencal, Managing Director of BOST, made the announcement during a news briefing organized by the Ministry of Information in Accra, where he outlined the company’s recent successes.
The four-year profit underscores BOST’s financial turnaround and operational resilience, marking a major milestone in the company’s strategic growth trajectory.
Dr. Provencal attributed BOST’s performance to prudent governance, effective cost management, and strategic operational improvements introduced by the Board and Management over the past four years.
Despite undergoing tough and dramatic challenges recently, BOST is making headway and has paid off GHc47 million in taxes to the Ghana Revenue Authority (GRA) which had been delinquent for some time. Besides clearing its debt, BOST’s MD noted that it had launched several strategies in order to increase revenue and completed critical projects such as the Tema to Akosombo Petroleum Pipeline and Bolga to Buipe Pipeline. Furthermore, the company operates a Leak Detection System that has enabled it to halt the illicit siphoning of fuel from its pipelines, as well as secure its fuel infrastructure.
The GH¢22.7 billion in revenues reflects BOST’s key role in fuel storage and transportation, with steady market demand supporting the company’s business model and profitability.
BOST’s profitability and revenue growth over the past four years reflect a period of strong governance and operational efficiency under the leadership of Dr. Provencal. The company’s achievements underscore its critical role in Ghana’s energy infrastructure, contributing to both economic stability and the efficient management of the country’s energy resources.
