The National Petroleum Authority (NPA) says Ghana currently has at least six weeks of fuel cover, dismissing concerns that the country could face an imminent shortage amid tightening global petroleum supplies.
NPA Chief Executive Officer, Godwin Edudzi Tamakloe, said the available stocks, combined with fuel cargoes currently at sea, provide a significant buffer for the domestic market.
“Currently, we have not less than 6 weeks of cover. Not less,” he said on Joy News’ PM Express Business Edition on Thursday.
He was responding to concerns over Ghana’s fuel supply outlook following recent reports of tighter global supplies and reduced fuel exports to some countries in the sub-region.
Asked whether the level of stocks was enough, Mr Tamakloe pointed to the number of vessels currently on the high seas carrying petroleum products.
“And if you look at the number of vessels even on the high seas, it is significant. So at this point, yes, I have some supply,” he said.
The NPA boss said his immediate concern was not the availability of fuel but the potential impact of international market conditions on prices.
“No, my major concern now is price,” he said.
Asked whether he expected supply problems within the next month, Mr Tamakloe was emphatic.
“Not at all,” he said.
He explained that developments in the international market were also prompting exporting countries to adjust their strategies, while pointing to the growing role of Nigeria’s Dangote refinery.
“Dangote is here,” he said to allay such fears.
His comments come as Ghana’s fuel market faces renewed pressure from global supply disruptions linked to conflicts and tighter availability of petroleum products.
The International Energy Agency has warned of a significant reduction in global oil supply in 2026, while refined fuel inventories have also come under pressure.
The developments have also coincided with fresh increases in Ghana’s fuel price floors. From September 16, the NPA’s floor price rose to GH¢16 per litre for petrol and GH¢16.77 for diesel, with LPG set at GH¢10.97 per kilogramme.
Meanwhile, BOSTenergies has clarified that reductions in fuel exports to Burkina Faso and Mali do not indicate an imminent shortage in Ghana.
The company said the reduction was largely linked to revamp works at its Bolgatanga depot.
Mr Tamakloe also defended Ghana’s private-sector-led downstream petroleum architecture, saying the system was deliberately designed to encourage private-sector participation.
He acknowledged concerns that private operators could potentially exert pressure on government but said safeguards had been introduced.
“I think there are some buffers that we put in place to ensure that the 2014-2015 events do not happen again. And like I said, that’s a particular concern, a great concern, to the President of the Republic, so we don’t get to a point where the private sector can effectively hold the whole country to ransom,” he said.
