GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
No Result
View All Result
Home Business

Fear and Panic Over Registration of Petroleum ‘Bulk Road Vehicles’

May 11, 2017
in Business
Share on FacebookShare on Twitter

Fears are being expressed about the registration of Bulk Road Vehicles (BRVs) to convey petroleum products across the country. A credible source, that spoke to The Chronicle, alleged that the registration of petroleum product carriers is being compromised.

You Might Also Like

Nana Akufo-Addo Has Won 2020 Ghana Elections with 51.7% of the Vote

Online Casino Best-Themed Games

Utilize Reliable Exam Dumps to Attain Cisco 300-320 R&S Certification Easily

The situation, apart from creating fertile grounds for easy diversion of petroleum products, and rendering its transportation a time-bomb, is also creating tension among registered owners of these vehicles.

The National Petroleum Authority ACT 2005 (ACT 152) requires all BVRs, apart from being legally registered, to have the following: Certificate of Incorporation and to Commence Business, (2), Company’s Regulations Code 8-82 3) Calibration Certificate for BRVs carrying white products and/or Non Destructive Test (DNT), (3) Certificate for BRVs carrying LPG, (4), Vehicle Insurance Certificate (Comprehensive), 5) Driver and Mate Accident Insurance Policy, (6) Goods-In-Transit (GIT) Insurance Policy, (7) Driver Vehicle & Licensing Authority (DVLA) Road Worthiness Certificate, (8) Testing Certificate from Road Safety Limited/State Transport Corporation.

The Chronicle, however, established that the above requirements are not being adhered to in the new registration of these trucks. It is alleged that some of the new trucks are owned by persons without registered companies and no inspections conducted on them as required, therefore, sidestepping safety matters.

In some of the cases, persons have been allegedly registered without vehicles or garages. Every month, the Bulk Oil Storage and Transport (BOST) moves 1,000 BRVs, with total product cost of GH¢200 million. The risk associated with the current trend is that the system becomes vulnerable for diversion, since some of these trucks do not have proper address systems to trace in the event of mistrust. On Wednesday May 3, 2017, The Chronicle blew the cover on the way an oil cartel operating in the petroleum sector was diverting fuel meant for export to the local market, without paying taxes to the government.

Their modus operandi, The Chronicle gathered, is to load petroleum products, gasoline and diesel from the storage points at the Accra Plains Depot (APD), Chase Petroleum, Tema Fueltrade, Sahara and Cirrus, using vehicles fitted with foreign registration plates from the Sahel states.

After leaving the depots, the foreign registered number plates are replaced with that of Ghana for diversion into tanker yards, which are dotted around the Tema Heavy Industrial Area, Kpone Barrier, Golf City and Bethlehem. Shockingly, waybills accompanying the commodity from the loading depots are conveyed to the nation’s designated exit points, and fraudulently recorded as having crossed our borders into the neighbouring states.

The Deputy Minister of Finance, Mr Kwaku Kwarteng, speaking to the media in Tema earlier, declared the readiness of the government to combat the cartel in the local oil industry, identified as being responsible for, not only revenue loss to the state, but also smuggling sub-standard petroleum products into the country.

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

Tags: Accra Plains DepotAutomobile costsBusiness_FinanceChase PetroleumCirrusDeputy Minister of FinancedriverDriver and Vehicle Licensing AgencyghanaInternet Services - NECKwaku KwartengLand transportLicensing Authoritylocal oil industryMarine Freight & Logistics - NECNational Petroleum Authorityoil carteloil terminalpetroleum productsproper address systemsRoad Safety LimitedRoad Safety Limited/State Transport CorporationSaharasub-standard petroleum productstemaThe ChronicletransittransportTransport Corporationtransportationvehicle insuranceVehicle registration platewhite products

Related News

Covid-19: President Akufo-Addo To Address Ghanaians Tonight

Nana Akufo-Addo Has Won 2020 Ghana Elections with 51.7% of the Vote

by ghanastar
December 9, 2020
0

Nana Akufo-Addo won Ghana’s national election, becoming president-elect at the third attempt and cementing the country’s reputation as a standard-bearer...

Online Casino Best-Themed Games

Online Casino Best-Themed Games

by ghanastar
July 9, 2020
0

Whether you like casino games or not, we can all agree that people like themes, and they express their lover...

Utilize Reliable Exam Dumps to Attain Cisco 300-320 R&S Certification Easily

by ghanastar
July 14, 2020
0

Cisco’s certifications are among the most popular credentials for IT professionals. The company is considered to be one of the...

Burkina Faso: Attack on Church Kills at Least 14

by
December 1, 2019
0

At least 14 people have been killed after gunmen opened fire inside a church in Burkina Faso. The victims were...

Next Post

Freddie Blay Named GNPC Board Chairman

Nana Addo Congratulates Justice Anin On Top FIFA Job

Categories

  • Africa & World
  • African Music Lyrics Directory
  • Business
  • Business Directory
  • celebrities
  • Computing
  • Diaspora
  • Entertainment
  • Events
  • Feature
  • Featured
  • Ghana Elections 2016
  • Headlines
  • Health
  • International
  • Internet
  • Jobs
  • lifestyle
  • Music
  • News
  • Offbeat
  • Opinion
  • Politics
  • Profiles
  • Religion
  • Security
  • Seth Terkper
  • Smart Home
  • Social Networks
  • Sports
  • Technology
  • Top Stories
  • World News

Tags

accra addo africa Association football Banks - NEC business Business_Finance chairman Donald Trump economy education Entertainment_Culture environment Geography of Africa ghana Ghanaian people government Government of Ghana Human Interest John Dramani Mahama john mahama Law_Crime mahama minister MPs elected in the Ghanaian parliamentary election Nana Addo Nana Addo Dankwa Nana Akufo-Addo National Democratic Congress National Democratic Congress (NDC) New Patriotic Party New Patriotic Party (NPP) nigeria politics Politics of Ghana president Social Issues Social Media Social Media & Networking sports United Kingdom United Nations United States Vice President War_Conflict

Recent Posts

  • Government of Ghana Unveils Official Portraits of President John Dramani Mahama and Vice President Prof. Naana Jane Opoku-Agyemang
  • Who Is the Woman (Sheena Gakpe) in Sarkodie’s Latest Hit “No Sir” and Why Everyone Is Talking about It
List of Ghana Holidays for 2020
Ghana Geocoding
Ghana Cedis Exchange API
Ghana Maps Service
Toyota Cars Auto Auction History
  • African Music Lyrics Directory
  • Business Directory
  • Diaspora
  • Top Stories

All rights reserved © 2021 GhanaStar.com

No Result
View All Result
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music

All rights reserved © 2021 GhanaStar.com