IN-PETROL GHANA LIMITED (PLAINTIFF) vs. GHANA OIL COMPANY LTD (DEFENDANT)

The core issues I have been called upon to adjudicate in this case are as to whether or not the Plaintiff can recover price and forex fluctuations and whether or not the Plaintiff is entitled to its reliefs. It is the claim of the Plaintiff that on or about January 2015, after concluding a series of negotiations, the Plaintiff entered into an agreement with the Defendant for the supply of 5,500 metric tons of gasoil valued at the estimated ex-refinery price of GH¢¢10,727,808.00. Due to the nature of pricing in the oil industry, the exact price of the gasoil could not be exactly determined until after the complete discharge of the product. This was because the National Petroleum Authority (NPA), the regulating authority of the industry, had the mandate to periodically review and determine the unit price per liter of petroleum product, to establish a pricing window and to determine the applicable USD exchange rate for all transactions. This pricing window was set every two weeks. Du.....