By Kebba AF Touray
The General Manager of Gam Petroleum Services Company (GPS), Mr. Salim Toure, appeared before members of the Joint Committee of the Finance and Public Accounts Committee (FPAC) and the Public Enterprises Committee (PEC) of the National Assembly on Tuesday, 30th April 2025, to respond to questions relating to the disappearance of over 953,614 metric tons of petroleum products, valued at approximately US$30 million—or about D2.13 billion dalasi.
The parliamentary inquiry, which is part of a broader investigation into the petroleum sector, is focused on understanding how such a significant quantity of petroleum could vanish from the country’s main storage facility without a clear explanation or paper trail. The missing stock has raised serious concerns about regulatory enforcement, internal controls, and oversight mechanisms within the petroleum storage and distribution system.
In his opening explanation to lawmakers, Mr. Toure clarified the operational mandate of Gam Petroleum, stating that the company serves as a storage terminal and not as a trader or importer of petroleum products. “Gam Petroleum Services is a terminal, which means we provide storage infrastructure for petroleum products imported into the country. These products are stored on behalf of Oil Marketing Companies (OMCs),” he said.
He elaborated that GPS operates both onshore and offshore terminals. The onshore terminal is located in Mandinari and functions as the central depot, while the offshore terminals—specifically the Conventional Discharge Mooring (CDM) and the Single Point Mooring (SPM)—facilitate the offloading of petroleum products from marine vessels into the onshore storage facility. “The terminal allows for the reception, storage, and subsequent distribution of petroleum products to the designated OMCs,” Toure stated.
Hon. Kebba Lang Fofana, a member of the Joint Committee, led the questioning and asked Mr. Toure to clarify who the primary clients of GPS are. Mr. Toure responded that licensed OMCs such as Jah Oil, GNPC, and Castle Oil are the typical users of the facility. “These companies are licensed importers of petroleum products, and we store their products based on agreements and allocations,” he said.
When asked whether there are standards or guidelines regulating how storage is managed, Mr. Toure responded that GPS operates under internationally accepted industrial norms and is subject to the regulatory framework of the Public Utilities Regulatory Authority (PURA). “We follow operational and maintenance standards such as those outlined by the American Petroleum Institute (API), and we ensure all safety and technical requirements are observed,” he added.
On the question of the terminal’s capacity, Mr. Toure said the onshore terminal has a total storage capacity of 30,000 cubic meters. However, committee members raised concerns about how far beyond that capacity some clients may have stored fuel, which could indicate overbooking or lack of monitoring.
A major point of interest during the session was GPS’s dealings with Apogee FZE, a Dubai-based company whose name surfaced in connection with the missing petroleum stock. Mr. Toure testified that GPS’s first interaction with Apogee FZE came through a company called Creed Energy Ltd., which introduced Apogee as a client interested in leasing storage space at the terminal. “We were approached by Creed Energy on behalf of Apogee, and we were introduced to a representative named Klement who coordinated the request for storage,” Toure said.
He explained that GPS entered into a lease agreement with Apogee FZE for two tanks with a combined capacity of 9,000 cubic meters. The lease was valid from July 2023 to January 2024. However, he disclosed that Apogee ultimately deposited 19,600 metric tons of petroleum products—more than double the volume initially agreed upon. When asked if Apogee had formally applied to increase its ullage (storage volume) or extend the lease period, Mr. Toure responded in the negative, raising questions among lawmakers about compliance and enforcement of contractual terms.
The committee further questioned the payment procedures and how ullage approvals are granted. Mr. Toure stated that ullage requests are assessed based on the available space, the quality and quantity of the product, and the client’s business model. Once approved, invoices are issued, and payments are made directly into GPS’s account. “The terminal operates as a revenue-generating facility, and all transactions are invoiced. Clients pay for the space and services they use,” he said.
Hon. Fofana asked whether GPS has any direct dealings with international traders, to which Toure clarified that the company’s relationship is primarily with OMCs. “Our role is limited to infrastructure and technical oversight. When an OMC nominates a vessel, we assess the vessel’s specifications to ensure it meets safety requirements before offloading is permitted,” he noted.
Toward the end of the session, Mr. Toure was asked to submit a comprehensive list of all OMCs that lifted petroleum products during the period of Apogee FZE’s agreement with GPS. The committee emphasized that such records are essential for tracking product movements and identifying potential discrepancies in stock accounting.
The parliamentary inquiry into the petroleum sector is ongoing, with further testimonies expected in the coming weeks. The case has drawn public attention due to the enormous value of the missing fuel and its implications for national energy security and financial accountability.
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