As stated by the report launched on Tuesday, October 1, 2019, “coupled with the growing forex risk and trade credit faced by the BDCs, th...
As stated by the report launched on Tuesday, October 1, 2019, “coupled with the growing forex risk and trade credit faced by the BDCs, the commercial viability of the BDC sector remains bleak.”
All pages in the report noted that “it is imperative that these risks are addressed for the industry’s sustainability.”
During the launch the Chief Executive of CBOD, Senyo K. Hosi, said : “‘Irresponsible competitions” in the sector that were posing risks of oil and gas shortage, warning that with the country experiencing gas shortage in the past, there was the need for care to be taken”
The likely fuel shortage didn’t come as a surprise to most Ghanaians as the Petroleum Intelligence (P I) show has already made it known in their write up published my zongolinkmultimedia just last week. In their statement they envisage a likely fuel increase from 1st-15th October, 2019.
The “unhealthy competition” as used in the report is likened with the sector and the nature of the credit arrangements as a case of “robbing Peter to pay Paul.” he added.
The unhealthy competition has reportedly resulted in the average BDC premiums falling from $ 66.60/mt to $65.75/mt for gasoline and $64.12/mt to $49.23/mt for gasoil.
Tomorrow Thursday 3rd October the Petroleum intelligent (P I) group will be on LIVE show with Zongolink to talk about the likely shortage and increase of fuel price they envisaged since last month.
The Petroleum Intelligence Show (the PI Show) will bring to the general public timely education about the petroleum downstream industry in Ghana. The happenings in the sector, biweekly speculations regarding international fuel ⛽ prices and the likelihood of domestic prices increment at the pumps will be brought to you. Carefully explaining the pricing formula and its components used by the Petroleum Service Providers (PSPs), namely the Price Build up (PBU) for the BDCs and that of the OMCs. They will also be a live-steaming telecast via Zongolink featuring seasoned experts with enormous potential and experience regarding the petroleum downstream industry.
Mariam Shaibu
