The Managing Director of the Bulk Energy Storage and Transportation Company Limited, formerly known as the Bulk Oil Storage and Transportation Company, has announced plans for the company to transition from focusing solely on oil to becoming a broader energy stockholding entity.
Speaking at the Ministry of Information earlier today, Dr. Edwin Provencal outlined this vision, emphasizing the critical role of BOST in generating revenue and reserves for Ghana. He explained that this strategic shift is driven by the anticipated decline in the value of oil, as the world moves towards alternative energy sources.
Dr. Provencal stressed that BOST must adapt to this changing landscape. “We at BOST recognize that oil is only one of many liquid energy sources that can generate revenue for Ghana. We are preparing for a future where oil will no longer be as valuable,” he stated.
As part of this transition, BOST will undertake a comprehensive rebranding initiative aimed at engaging stakeholders and raising awareness of its new direction. Additionally, discussions have commenced on leveraging opportunities in blended ethanol production, compressed natural gas, liquefied petroleum gas, and other initiatives aimed at achieving net-zero emissions and reducing greenhouse gases.