Accra: An Accra High Court, Commercial Division has adjourned the legal dispute involving an alleged breach of distribution agreement contract between Dram Oil and Trading Limited and Alfapetro Ghana Limited. The matter has been rescheduled to commence on October 13, 2025, after being postponed from its original start date of June 10, 2025, at the request of the defense counsel.
According to Ghana News Agency, the delay was requested through a letter dated June 9, 2025, addressed to the Court's Registrar. The letter explained that Mr. Ace Anan Ankomah, who is responsible for the case, had to travel out of jurisdiction and would be unable to attend the court proceedings. Consequently, the defense requested an adjournment to July 8, 9, and 10, 2025, subject to the court's availability. Justice Mavis Akua Andoh, presiding over the case, decided after a private consultation with the involved parties to reschedule the trial to October 2025.
Dram Oil, the plaintiff in the case, is seeking an order to recover USD 887,671.69, which translates to GHC11,362,197.63, based on the March 2024 exchange rate of GHC12.8 to USD 1. The sum represents under-recoveries allegedly received by Alfapetro Ghana Limited from the National Petroleum Authority under a category labeled Tranche 1. The plaintiff claims the defendant has failed to pay this amount over to them as stipulated.
In addition, the plaintiff is demanding interest on the Tranche 1 sum, amounting to 54,458,449.38 at an interest rate of 46% per annum. This interest includes the facility interest rate incurred by the plaintiff due to the defendant's alleged default, calculated from December 2013 to December 2023, when the Amended Writ of Summons and Statement of Claim was issued.
Furthermore, Dram Oil is pursuing recovery of USD 79,977.26, equivalent to GHC1,023,708.93, for Tranche 2 under-recoveries. The plaintiff asserts that this amount was also received by the defendant from the Petroleum Authority and not paid to the plaintiff. The interest on this sum is claimed to be 3,767,248.87 at the same annual rate of 46%.
Additionally, Dram Oil seeks USD 1,325,207.45 for outstanding direct sales proceeds allegedly not paid by the defendant, who received these from the OMCs. The plaintiff demands interest on this amount, currently standing at GHC78,028,214.50, also calculated at a 46% annual rate.
The origins of the conflict trace back to 2012, when the defendant's Managing Director, Mr. Eric Forson, approached the plaintiff's CEO, Mr. Randolph Koranteng, to obtain a distribution contract for oil trading. A distribution agreement followed on September 13, 2012, allowing the defendant to distribute 7,100 metric tons of petroleum products imported by the plaintiff.
Under the agreement, the defendant was responsible for issuing proforma invoices and paying proceeds into a specified Collection Account at UT Bank, with an agreed distribution fee of USD 8.00 per metric ton. However, the plaintiff alleges that the defendant has failed to remit the full under-recoveries received for the distributed products, contrary to the agreement terms.
