The Corporate Affairs Officer of the Tema Oil Refinery (TOR), Godwin Mahama Ayaba, says Ghana is unlikely to experience fuel shortages despite rising tensions in the Middle East, citing the country’s diversified sources of petroleum imports and growing local refining capacity.
Speaking on The Pulse on March 11, Mr Ayaba backed assurances by the National Petroleum Authority statement that the ongoing Us–Israel- Iran conflict will not disrupt fuel availability in Ghana.
According to him, the NPA recently issued a statement indicating that the situation in the Middle East will not lead to shortages of petroleum products in the country.
“The National Petroleum Authority, which is the regulator, some three to four hours ago issued an official statement assuring all of us that as for shortage, there is no way the Iran–Israel conflict is going to affect us,” he said.
Mr Ayaba explained that Ghana’s fuel import structure significantly reduces the risk of supply disruption because the country imports most of its finished petroleum products from Europe.
“Ghana largely imports from two different areas: Europe and the Arabian region. Where we import most is Europe,” he noted.
“We import about 80 per cent of our finished petroleum products from Europe and about 20 per cent from the Arabian region where this conflict may have an impact.”
While acknowledging that the Middle East tensions could affect that 20 per cent supply, he said Ghana’s domestic refining capacity is expected to fill the gap.
“So we are likely to lose that 20 per cent, but with TOR coming on stream, we will be able to block that gap,” he said.
Mr Ayaba revealed that the refinery is currently producing about 28,000 barrels and expects output to increase significantly after ongoing upgrades.
“Currently we are producing about 28,000 barrels. After the tie-in we will move to about 45,000 and further move to 60,000,” he explained.
He added that increased output from other refineries in the country will also contribute to stabilising supply.
“Sentuo is doing around 36,000 to 40,000 barrels a day, Akwaaba is doing somewhere less than 10,000, and Platon is around a little below 3,000,” he stated.
“Together, all these companies will be able to block that 20 per cent that would have come from the Arabian region.”
Mr Ayaba emphasised that Ghana will still maintain the bulk of its imports from Europe, further ensuring supply stability.
“We will still have the 80 per cent from Europe coming in,” he said.
He therefore urged the public not to panic, reiterating the assurances provided by the National Petroleum Authority.
“I will add my voice to the official communiqué from the NPA that we should rest assured that we are not going to record fuel shortages,” he stated.
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Source: www.myjoyonline.com
