The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has described Ghana’s current fuel reserves as “abysmal,” despite assurances from the National Petroleum Authority (NPA) that the country holds more than five weeks of supply.
Speaking on Channel One TV on Saturday, March 7, Mr Amoah warned that the limited stockpile leaves Ghana highly vulnerable to supply disruptions, particularly as tensions in the Middle East are expected to persist for months.
“I am not particularly enthused by the five weeks of storage we have. It is abysmal, and I’ll put this on record,” he said, stressing the need for immediate action.
The NPA, however, maintains that Ghana’s petroleum reserves remain adequate. The Authority’s Director of Economic Regulation and Planning, Abass Ibrahim Tasunti, confirmed that the nation currently has over five weeks of fuel in stock, seeking to allay fears of potential shortages.
Mr Amoah urged Energy Minister John Abdulai Jinapor to act swiftly and secure additional fuel supplies from the Lome Triangle, noting that Ghana has the infrastructure to sustain far larger reserves.
He highlighted that the Tema Oil Refinery (TOR) alone has a storage capacity of nearly one million metric tonnes, enough to cover two to three months if fully stocked. State-owned Bulk Oil Storage and Transportation (BOST) contributes between 700,000 and 800,000 metric tonnes, while private depots like Tema Fuel Company (TFC) could further bolster national reserves.
“If I may advise my brother, the Energy Minister: get to the Lome Triangle immediately and secure as much stock as you can. If you decide to stock up, Ghana could maintain between four to six months of supply at a minimum. Five weeks is essentially just one month,” he added.
