Afetsi Awoonor, Managing Director of Ghanaian state agency Bulk Oil Storage and Transportation (BOST), has joined the Invest in African Energies: Accra Investor Briefing to discuss strategies for boosting the country’s oil and gas value chain. Taking place on April 14 at the Kempinski Hotel in Accra, the event provides insight into the country’s investment opportunities, supporting dealmaking ahead of the African Energy Week (AEW): Invest in African Energies conference this September.

With a mandate to sustain strategic reserve stocks in Ghana while strengthening storage and transportation infrastructure, BOST is rapidly expanding its infrastructure development across the country. The company currently has a total storage capacity of 415,000 cubic meters, including 215,000 at the Accra Plains depot; 87,000 at the Kumasi depot; 50,000 at the Buipe depot; 46,500 at the Bolga depot; 12,000 at the Akosombo depot; and 17,000 at the Mami Water depot.

To support distribution among the depots and to consumers, the company is developing a network of storage facilities and pipelines across the country. In addition to the depots, the company has developed pipelines linking the Tema Oil Refinery to the Accra Plains depot as well as an 8-inch multi-product pipeline linking the Trafigura Conventional Check Buoy Mooring to the Accra Plains depot. A series of pipelines connect the respective depots, thereby ensuring a strong system of distribution infrastructure.

Meanwhile, to support the import of petroleum products in the country, BOST – under the authority of the government – played an instrumental part in implementing the country’s Gold-for-Oil initiative. The program, which enables BOST to pay for imported petroleum products with gold, leverages the country’s abundant mineral resources to support fuel security. The country increased its gold reserves from 19.5 tons in 2023 to 30.5 tons in 2024, highlighting the value of the commodity in Ghana. 

Beyond its border, BOST is supporting regional fuel distribution. In March 2025, the company renewed a partnership with Burkina Faso’s National Hydrocarbons Company (SONABHY) to enhance cross-border petroleum trade. Under the terms of the agreement, SONABHY will utilize BOST’s supply chain infrastructure to streamline the movement of petroleum products from Ghana to Burkina Faso. The company will utilize infrastructure such as logistics networks, pipelines, river transport, bulk road vehicles and storage terminals. A joint technical team established by the companies will assess BOST’s operational capacity, thereby ensuring smoother petroleum chain and eliminating supply chain disruptions.

“To make energy poverty history by 2030, African countries need to significantly scale-up their domestic storage and distribution capacity. Companies like BOST are making strides in this area, targeting major investments across the downstream sector to strengthen fuel security in Ghana. As the country drives 17 new oil and gas projects by 2027, efforts by BOST will ensure that local populations benefit from the country’s upstream expansion,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Serving as a prelude to the AEW: Invest in African Energies 2025 conference – taking place September 29 to October 3 in Cape Town – the Invest in African Energies: Accra Investor Briefing will provide a comprehensive overview of Ghana’s oil and gas opportunities. From upstream blocks to downstream infrastructure to capacity building and storage, the event will support decision-making by investors by offering greater clarity into the country’s hydrocarbon market.