The National Petroleum Authority (NPA) has given assurance that there is sufficient supply of fuel in the country to meet domestic demand.
The announcement follows a recent statement by the Institute of Energy Security (IES) that the country’s fuel supply could not last beyond two weeks.
In a release signed by Yaro Kasambata, its Public Relations & Consumer Service Manager, it mentioned that “the current stock position in the country indicates there is over 200 million litres of gasoil and more than 100 million litres of petrol at various depots throughout the country.
“These stocks are expected to last up to six weeks. Additionally, over 73 million litres of gasoil and 46 million litres of petrol are expected to be delivered into the country from 13th to 18th February 2017.”
The NPA stated that it continuously monitors the weekly schedule of fuel imports to ensure constant supply of fuel in the country.
It also said there were no challenges at the discharging terminals at the country’s ports.
“We therefore encourage the media and the general public to disregard any projections being put out in the public domain as merely speculative without any empirical basis.
“We further encourage all such interested organizations to crosscheck their information with the NPA before making public statements about this matter.”
The NPA further urged all motorists and consumers to disregard reports about imminent shortage of fuel in the country.
The IES, on February 14, warned of an impending shortage of petroleum products in the coming weeks following the shutdown of the Tema Oil Refinery (TOR) and the congestion at the ports which it said had compelled many oil companies to postpone their import and export programmes.
Richmond Rockson, Principal Research Analyst at the Petroleum Unit of IES said, “Ghana’s fuel supplies are expected to face serious disruptions due to the unanticipated shut down of the Tema Oil Refinery (TOR), and port congestion facing the oil companies which is compelling them to postpone their import and export programmes amid acute discharge and loading constraints.”
It added that currently Ghana has half of the fuel needed for the next one month and called on authorities to, as a matter of urgency, increase fuel supplies for strategic reserves in order to avoid the imminent threat.
It disclosed that at the close of business on February 13, the country’s stock of gasoline and gas oil at both the Tema Oil Refinery and the Bulk Oil Storage and Transportation Company (BOST) installations across the country was 86,000 metric tonnes.
“Also, the stocks held in tank at Bulk Oil Distribution Companies (BDCs) facilities in Tema stood at 24,750 metric tonnes. A year ago, the combined stock of these fuel stood at 451,200 metric tonnes; a little above the mandatory 6-week requirement.”
By Samuel Boadi