The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Patrick Kwaku Ofori, has expressed optimism that Ghana could meet up to 50% of its domestic fuel consumption through local production if the Tema Oil Refinery (TOR) and Sentuo Oil Refinery operate at full capacity.
Speaking on the Citi Breakfast Show on Monday, August 3, Ofori said the combined output of the two refineries has the potential to significantly reduce the country’s dependence on imported refined petroleum products and strengthen Ghana’s energy security.
According to him, while increasing local refining capacity is essential, Ghana must avoid relying on a single source of supply. He stressed the need to maintain diversified fuel supply channels to protect the country from disruptions that could arise from operational challenges at any refinery or petroleum infrastructure.
He explained that a diversified supply chain would help Ghana avoid emergency fuel imports, which often come at a higher cost and ultimately increase the burden on consumers.
“If the two are able to operationalise to their full capacity, we are looking at 50% of our domestic consumption being produced locally.”
Ofori also called for policies that promote healthy competition within the downstream petroleum sector, saying a balanced and collaborative operating environment would protect investments, preserve jobs and encourage sustainable growth across the industry.
Source: CNR
