The National Petroleum Authority (NPA) has assured consumers that Ghana has sufficient fuel reserves to withstand any potential supply disruptions arising from escalating tensions in the Middle East.
Speaking in an interview with Citi Business News, the NPA’s Director of Economic Regulation and Planning, Abass Ibrahim Tasunti, dismissed fears that the ongoing conflict in the region could trigger fuel shortages in Ghana.
According to him, the country currently holds more than five weeks’ worth of diesel and nearly seven weeks’ supply of petrol, with additional cargoes already at anchorage awaiting discharge.
We shouldn’t be scared. We have over five weeks of diesel and almost seven weeks of petrol, with cargoes at anchorage waiting to discharge to add to what we have. In addition, our import plan for the quarter already extends into April,” he stated.
He added that confirmed vessels are scheduled to arrive in Ghana to discharge petroleum products in the coming weeks, further strengthening supply security.
Tasunti also highlighted the growing role of the Sentuo Oil Refinery in boosting domestic supply. He noted that the refinery has been consistently producing and supplying fuel to the local market since June last year, making it a key contributor to national fuel stocks.
On Liquefied Petroleum Gas (LPG), he said the Atuabo Gas Processing Plant continues to produce and augment national reserves, ensuring steady availability.
With Sentuo producing and LPG output from Atuabo, we should not have any fear or concern that this war will prevent us from having products to run the economy,” he stressed.
Meanwhile, global crude oil prices have begun trending upward amid disruptions to oil and gas shipping through the Strait of Hormuz, a critical global energy corridor, as regional tensions intensify.
Crude is currently trading above $70 per barrel, a development that could influence fuel prices on the domestic market. Some Oil Marketing Companies (OMCs) have already implemented marginal upward price adjustments in line with expectations for the current pricing window.
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