Thankfully, the Chamber of Oil Marketing Companies (COMAC) has dispelled recent media reports about an impending fuel shortage and assured the public that the country is receiving regular fuel deliveries.
COMAC assures that the current petrol stock is sufficient to meet approximately three weeks of national demand, with additional shipments actively being discharged.
Other fuel-loaded vessels are anchored and awaiting their turn to offload, COMAC added, dispelling any risk of a fuel shortage. Consequently, the Chamber urged media outlets to exercise responsibility in their reportage to prevent unnecessary public anxiety.
Indeed, COMAC clarified the miscommunication following an interview with its Chief Executive Officer, Dr. Riverson Oppong, whose comments were misconstrued. Dr. Oppong rather provided updates on a temporary reduction in petrol stock due to operational factors, including the suspension of refining activities at Sentuo Oil Refinery.
Additionally, Dr. Oppong did not at any point state that the Gold-for-Oil (G4O) policy is a solution to fuel shortages, though he commended the policy while advocating a review to optimise its implementation in light of evolving industry dynamics.
This recommendation, they noted, reflected evolving consumption dynamics in the industry since the policy’s inception. The ballooning energy sector debt has long been a significant financial challenge, placing immense pressure on state utilities and threatening the country’s economic stability.
Coupled with the above, bulk importers of petroleum products have ruled out a fuel shortage on the market in coming weeks. Chief Executive-Chamber of Bulk Oil Distributors Dr. Kweku Ofori disclosed that there is enough fuel in Ghana to even supply neighbouring countries that rely on the Chamber for their fuel imports.
He announced that the country also has enough diesel to last almost a month at the pumps
