Ignore fuel shortage claims – ACEP

African Center Energy Policy (ACEP) has dismissed claims that the country will soon be experiencing acute fuel shortage following the shutdown of the Tema Oil Refinery (TOR).

In exclusive interview with GhanaWeb, Head of Policy Unit and Energy Policy Advisor at ACEP, Dr. Ishmael Ackah, disclosed that TOR does not have significant grip over the market to plummet the country into fuel shortage if it halts it operations.

According to Dr. Ackah, the bulk oil distributors who import already refined crude may take advantage of the situation at TOR and even import more petroleum products into the country.

This is in contrast with a release issued in Accra on Tuesday and signed by the Principal Research Analyst of Petroleum Unit at the Institute of Energy Security (IES), Mr Richard Rockson,

“At the close of business on Monday, the country’s stock of gasoline and gas oil at both the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company (BOST) installations across the country was 86,000 metric ton.”

It said, “Also, the stocks held in-tank at Bulk Oil Distribution Companies (BDC’s) facilities in Tema stood at 24,750 metric ton. A year ago, the combined stock of these fuel stood at 451,200 metric ton; a little above the mandatory six weeks requirement”.

Dr. Ackah also noted that, some of the BDC’s have their own storage installations and do not patronize the service of BOST.