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16 February 2017

NPA refutes imminent fuel shortage claim

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The National Petroleum Authority (NPA) has urged the public to dismiss claims that there could be an imminent fuel shortage for petrol and LPG.

According to the NPA, there is enough fuel to last the nation for the next six weeks adding as far as the NPA is concerned, there is a current stock of 200 million liters diesel nd 100 million litres of petrol.

In a statement signed by the PRO of NPA Wednesday, Yaro Kasambata, assured that there are no challenges at the discharging terminals at the country’s ports and ensured that there is fairness in the process leading up to the discharge of cargoes of all importers.

The reaction is in response to an earlier statement from energy think-tank Institute for Energy Security (IES) alluding that 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.

The Principal Research Analyst of the Petroleum Unit of the Institute, Richmond Rockson said in a statement that the current situation is compelling oil companies to postpone their import and export programmes; amid acute discharge and loading constraint.

“As a result, stocks of the two main petroleum products consumed in the country have fallen short of the mandatory strategic level of 6-weeks, at a time when economic activities have picked up across the country after the General Election and Christmas festivities,” the statement said.

At the close of business Tuesday, the country’s stock of Gasoline and Gasoil at both the TOR and the Bulk Oil Storage and Transportation Company (BOST) installations across the country was 86,000 metric tonnes, the statement added.

“Also, the stocks held in-tank at Bulk Oil Distribution Companies (BDC’s) 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- weeks requirement,” it said.

However, NPA CEO, Hassan Tampuli says by the end of this week, new stocks will be discharged.

Source: Ghana | Myjoyonline.com

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