REJOINDER | We Didn’t Steal Saltpond Offshore Oil

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Cargo-ship

REJOINDER: STOLEN SALTPOND OFFSHORE CRUDE OIL INTERCEPTED

The attention of General shipping and Trading Services (GSTS) and its CEO, Mr. Justice Asare, has been drawn to a publication by Ghana News Agency where there has been an alleged theft of Salt pond crude by the aforementioned company.

According to the publication there was an arrangement that the cargo on board the vessel Mt Ceilo Di Milano was to set sail only after full payment had been made through letters of credit.

However, GSTS, acting per its CEO, took out 24,332 barrels of Saltpond Crude valued at $1,237,647 through Imperial Energy Ventures and managed to sail the vessel out of Ghana waters by forging documentation unlawfully.

The said report has been widely circulated on social media including ghanaweb.com and has been the basis of all sorts of disparaging remarks against GSTS and its CEO.

GSTS wishes to state categorically that the publication is based on falsehood and a malicious attempt to smear the good reputation of GSTS and Mr. Justice Asare.

It is imperative to note that the publication is not only one sided story but no attempt was made by the publisher to get the side of GSTS or its CEO. It is regrettable that a news agency of the standing of GNA would defile the basic tenets of journalism by publishing such false and malicious story without any verification.

Sometime in April 2015, GSTS entered into a contract with Imperial Ventures Ltd, a Ghanaian company owned by Mr. Chaouki Fattal, for the sale and purchase of crude oil.

As a result, GSTS issued a bank guarantee to Imperial Ventures Ltd to secure payment of any crude oil to be supplied to GSTS. Pursuant to the agreement, Imperial Venture Ltd supplied 24,332 barrels of oil to GSTS.

It is significant to note that GSTS has no contract with Saltpond Offshore Producing Co. Ltd. (SOPCL) or Ghana National Petroleum Corporation (GNPC) to sell and/or buy Ghana’s crude oil. It is therefore completely false that GSTS had agreed to the arrangement of any letters of credit before the sail of the vessel.

Indeed, GSTS has rendered logistic support to SOPCL to the tune of $762,000.00 which SOPCL has been unable to pay since January 2013. It is preposterous to further accuse GSTS and its CEO of serious offence of forgery without specifying the nature of alleged forged documents.

GSTS will not undermine its corporate values by indulging in any sort of illegality to the detriment of any person let alone the Government of Republic of Ghana. GSTS deems the publication against it as defamatory and is consulting with its solicitors to pursue all options available to it.

Justice Asare

Chief Executive Officer – GSTS

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I am the online editor @ banewsgh.com, wordpress designer, sports and entertainment enthusiast. I started my working life as a broadcaster but took a break after almost a decade in radio to focus on other things including banking and project management. I am a 'REST NOT' alumni, fighting two addictions-- radio and the internet.