The alleged death threats are currently being investigated by the Tema Regional Police.

[contextly_sidebar id=”YxilvOBQw2zUVErWnFaAvUk8qWmu3wO2″]The BOST MD, Alfred Obeng Boateng, has sued Mr. Amoah contending that the claims that his associate issued the death threats were false.

He is seeking an injunction keeping Mr. Amoah from making such claims as well as GHc5 million in damages.

Mr. Amoah, speaking on Eyewitness News, however said he was yet to be served with the writ, adding that “this is a summons that our lawyers will equally deal with.”

He said he hoped Mr. Obeng Boateng would have waited for police investigations to end before taking such legal action.

“What I can say is that investigations into this is already underway with the Tema Police and one would have expected that we would at least get to end of the investigation so that if there is no substance in those threats, Mr. Obeng Boateng would have pursued another avenue.”

He maintained that the death threats were real and that “for three days, I have had to go without sleeping in my own house and that clearly is not a very pleasant situation.”

Background to death threats

At the centre of the threats are allegations that BOST cost the state GHC 23 million in revenue by selling some crude oil at a discount to an unregistered company.

According to Mr. Amoah, about 1.8 million barrels of crude oil was sold in the said transaction in September 2017.

He narrated that someone who claimed to be a friend of the BOST MD called him asking to meet over the claims.

“At the initial stage, all he [The caller] tried to sound nice suggesting that we should meet and see if there are compromises… When I objected he said the threats begun from some numbers,” he recounted.

“The person came trying to get a gentleman’s agreement from me as far as the report we have put together about the BOST transaction is concerned. When that backfired, they now resorted to threats and attempts to take me out completely.”

Despite the suit, Mr. Amoah said he would stick by his assertions.

“They should prepare Nsawam [Prison for me] because I would be willing to spend 1,000 years just fighting for what is right… If you sold Duncan Amoah, you wont get 5 million. He should rather go and do a criminal thing such that I can just go [to prison]. I am only asking questions and I will not keep quiet.”

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By: Delali Adogla-Bessa/citifmonline.com/Ghana

The post I’ll face BOST MD in court over ‘death threat’- Duncan Amoah appeared first on Citi 97.3 FM - Relevant Radio. Always.

In a strongly-worded statement, Mr. Obeng Boateng said Duncan Amoah was simply an “enemy to the progress” and should “be ignored at all times.”

This was in response to claims by Duncan Amoah that Ghana lost about GHc23 million in revenue when 1.8 million barrels of crude oil was sold at a discount to an unlicensed company.

He alleged that the discount was at two dollars a barrel when prices on the international market were on the rise.

But Mr. Obeng Boateng in a statement said the COPEC boss was being used to distract the new BOST administration “through false, baseless, needless and malicious publications… for no other reason but for their personal and selfish individual interest.”

The BOST MD held that if Duncan Amoah had genuine concerns, he would have approached BOST through more appropriate avenues as opposed to public utterances.

“If Duncan Amoah meant well, the first thing to do is to find out the rationale behind such decision be it commercial or not. But you cannot just get up and issue such statement that has potential to damage reputation of your fellow human beings and the very company that belongs to all of us as Ghanaians because of your individual interest of looking for cheap money.”

Mr. Obeng Boateng lamented further that, “everyday management [of BOST] is having crisis meeting because of these false and misleading publications thereby preventing management from concentrating on its core mandate.”

“Ghanaians and the media should not allow this selfish individual to fool us by placing his interest above the national interest, he added.

Explanation for ‘discount’

Mr. Obeng Boateng noted that, the oil in question could not have been sold at the official price because of the amount of time that had passed between the time of purchase and sale.

“In his [Duncan Amoah] statement, he exposed his ignorance when he stated that at the international level Quaibo Crude is sold at Brent plus $0.85 per barrel as official price, and therefore BOST has caused financial loss to the state by selling its own at a discount of $2 per barrel. It must be noted here that a cargo imported with the aim of refining or using for one purpose but did not materialize and reselling it about 10 months later, cannot be sold at the official price. Such a product is considered distress and is always sold at a discount globally.”

“As we speak, BOST has offers for such distress cargoes at a discount of $4 per barrel. Any person competent in the industry would have asked for the details before issuing this illogical and baseless statement actuated by malice and selfish interest to mislead the good people of Ghana. Thus keeping the crude for such a period may affect the quality and for that matter the yield, hence the assay is a factor in pricing,” he explained.

Find below the full statement

Bost MD Reacts to Duncan Amoah False Allegations

To commence I would like to put it on record that Duncan Amoah the so-called executive secretary of Copec is an enemy to the progress of BOST. He should therefore be ignored at all times.

Duncan Amoah is one of the people being used to used to distract the new administration through false, baseless, needless and malicious publications against BOST since the assumption of office by Mr Alfred Obeng, the current Managing Director of Bulk Oil Storage and Transportation Limited for no other reason but for their personal and selfish individual interest.

We are not insulated from criticism but criticism must be constructive and logic devoid of personal interest and malice.

The statement issued about BOST by Duncan Amoah, a man who is an enemy to the progress of BOST is not only unfortunate and misleading but a clear sign of his ignorance about the petroleum industry that he is deceiving the media and the general public that he has a rich knowledgeable in.

In his statement, he exposed his ignorance when he stated that at the international level Quaibo Crude is sold at Brent plus $0.85 per barrel as official price and therefore BOST has caused financial loss to the state by selling its own at a discount of $2 per barrel. It must be noted here that a cargo imported with the aim of refining or using for one purpose but did not materialise and reselling it about 10 months later cannot be sold at the official price. Such a product is considered distress and is always sold at a discount globally. As we speak BOST has offers for such distress cargoes at a discount of $4 per barrel. Any person competent in the industry would have asked for the details of the assay before issuing this illogical and baseless statement actuated by malice and selfish interest to mislead the good people of Ghana. Thus keeping the crude for such a period may affect the quality and for that matter the yield, hence the assay is a factor in pricing.

He further stated that crude price hit $70 per barrel in January 2018. Is he saying that BOST should have waited to that time before selling the product? If that is what he wanted to put across then it is better he swallows it because same will expose his weakness in analysing commercial decisions. If that is what he thinks then it is equally advisable for BOST to have waited and sell it somewhere the year 2050 perhaps crude price may hit $150 per barrel. Duncan Amoah should revise his notes very well if indeed he had ever had education in petroleum otherwise he should seek admission to study certificate in petroleum in order for him to have the required competent to criticise constructively.

If Duncan Amoah meant well the first thing to do is to find out the rationale behind such decision be it commercial or not. But you cannot just get up and issue such statement that has potential to damage reputation of your fellow human beings and the very company that belongs to all of us as Ghanaians because of your individual interest of looking for cheap money.

His allegation that when selling the crude BOST did not involve Tema Oil Refinery where the crude was kept again shows how naive Dancun Amoah is in the petroleum downstream industry. What role would TOR play when BOST is selling its own product? When BDCs are selling their products in BOST  system does BOST get involve? BOST only informed TOR of the new owner with a release letter as the practice in the industry.

Further allegation that BB Energy processed the crude at TOR without license is outside the mandate of BOST and therefore Dancun Amoah should find out the exact arrangement BB Energy had with TOR and NPA before accusing BOST since same is outside BOST responsibilities. He thinks BB Energy did so illegally he can report same to NPA to sanction them.

Commenting on the tolling fees charged by TOR, again this is outside BOST mandate but in any event the Managing Director of TOR and his team have been given the mandate to take decisions that will promote the success of the company hence can take commercial decision in the interest of TOR.  Assuming that the tolling fee was $3.5 per barrel against $4 or $4.5 per barrel at the international level, does Dancun Amoah know the factors underlying TOR decision to accept the $3.5?

One of major factors in deciding tolling fee is the efficiency of the refinery, which Duncan Amoah did not mention but jump to accuse people of wrongdoing. He cannot run down state institutions any how just because of his personal interest?

Again it is clear from the statement that Duncan Amoah so called executive secretary of Copec lacks both fact of the transaction and the knowledge in the petroleum downstream industry.  First of all the crude sold to BB Energy was 942000 barrels but not 1.8 million barrels as he claims.

For his information 1 million barrels of the TEN crude was being refined when TOR broke down. The remaining was given back to the supplier called AOT to set off our indebtedness to that company. So where did he Dancun Amoah get this 1.8  million barrels crude alleged to have sold to BB Energy from?

We are appealing to the media and the general public to ignore this man and his so called Copec formed for personal gains at the expense of the national interest.

The same person has been complaining about rising of fuel prices and at the same time distracting the very company that requires peaceful mind to strategize to stabilise fuel prices in the market.  Everyday management is having crisis meeting because of these false and misleading publications thereby preventing management from concentrating on its core mandate. Ghanaians and the media should not allow this selfish individual to fool us by placing his interest above the national interest.

Anybody interested in his frivilous statement can come to BOST offices to verify the truth or otherwise.

On the issue of death threat the Managing Director has already instructed his lawyers to take legal action and will soon be communicated to the general public. On this falsehood and malicious publication about the company, the board had referred the matter to its legal community to advise the Board within 24 hours.

According to the Managing Director, the public should continue repose confidence in him because he will never take any decision that will not promote the success of BOST.

Signed: Mr. Alfred Obeng Boateng, MD For BOST.

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By: Delali Adogla-Bessa/citifmonline.com/Ghana

The post BOST MD slams Duncan Amoah over ‘baseless’ allegations appeared first on Citi 97.3 FM - Relevant Radio. Always.

The event, scheduled for Saturday, April 7, is under the auspices of the president of the Council, Katakyie Kwasi Bumankama II.

Second Lady, Samira Bawumia, is the guest of honour for the event billed to be attended by key political figures, including a number of ministers of state.

Mr. Boateng was appointed by President Nana Akufo-Addo in January last year. He is a legal practitioner with a speciality in oil and gas.

Until his appointment, he was the Chief Executive Officer of Approachers Group of Companies and has over 20 years experience in the industry.

He studied at the University of Buckingham in the United Kingdom where he graduated with LLB (Laws) and proceeded to study for his Master’s Degree in the same university.

He was awarded LLM in International Commercial Law with Oil and Gas specialisation.

Alfred Obeng Boateng has received several international awards for distinguishing himself in the discharge of his duties.

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By: Sammi Wiafe/citifmonline.com/Ghana

The post BOST MD to be honoured by Sefwi Wiawso Traditional Council appeared first on Citi 97.3 FM - Relevant Radio. Always.