The Technical Advisor at the Ministry of Energy and Green Transition, Dr Yussif Sulemana, has assured Ghanaians that the country is not facing an immediate fuel supply shortage, despite growing concerns over rising tensions in the Middle East.
His remarks come amid fears of a potential oil crisis triggered by the ongoing conflict involving the US, Israel, and Iran, which analysts warn could disrupt global oil supply routes.
Recent days have seen significant volatility in global oil markets, with crude prices climbing above $100 per barrel for the first time since 2022.
Dr Sulemana, speaking on Citi FM on Monday, March 9, said Ghana currently has sufficient fuel stocks to meet demand in the short term.
“We are not immediately threatened by the supply or the availability of the product. What we are immediately threatened with is the price. Are we able to maintain the price? That is a big question that we are looking at,” he said.
He added that while global supply disruptions could eventually impact markets, Ghana’s immediate focus remains on ensuring that adequate fuel stocks are maintained.
According to Dr Sulemana, the Tank Farm Operators have been collaborating closely with the National Petroleum Authority (NPA) to sustain stable supply levels.
“We have only to ensure that we maintain the availability of supply. After we made the announcement, we have been working closely with the NPA, and they have given us the assurance that we can go beyond the five weeks,” he stated.
Dr Sulemana also revealed that additional fuel shipments are already in the country’s ports and will soon be discharged, potentially extending Ghana’s reserves significantly.
“We have some ships that have been docked at the harbour, ready to discharge. So, if these ships are discharged, we can go up to 10 weeks,” he added.
The Ministry emphasised that while price fluctuations remain a concern, Ghana’s current fuel supply situation is stable and adequately positioned to meet national demand in the short-term.
