CBOD Denies Fuel Shortage Claims, Assures Public of Stable Supply
The Ghana Chamber of Bulk Oil Distributors (CBOD) has dismissed claims of an impending critical fuel shortage, assuring the public that fuel supplies remain stable. Speaking to Citi News, Dr. Patrick Ofori, CEO of CBOD, stated that there is sufficient fuel at the ports, with additional stock expected in the coming weeks.
“Most of the BDCs currently have products at anchorage, with vessels discharging petrol. In addition, over the next week or two, we’re expecting about 100,000 metric tonnes of petrol to arrive in the country. There is no cause for alarm, and our members do not face any capacity or financial constraints,” Dr. Ofori said.
OMCs Warn of Shortages
Contrary to CBOD’s assurances, the Chamber of Oil Marketing Companies (OMCs) has raised concerns about a potential fuel shortage in the near future. The OMC Chamber attributes this risk to the suspension of the Gold-for-Oil programme and the operational halt of Sentuo Oil’s refining activities.
Dr. Riverson Oppong, CEO of the OMC Chamber, emphasized the challenges in an interview, noting that the Gold-for-Oil programme created market imbalances that have now impacted supply.
“When the Gold-for-Oil programme started, it peaked. When it peaked, we in the petroleum sector saw this coming. Anytime you are drawing a graph and there is a peak, there is a fall, and we warned the government, but it wouldn’t listen,” Dr. Oppong explained.
He added that the cessation of operations at Sentuo Oil’s refinery and reduced imports by BDCs due to the Gold-for-Oil programme have exacerbated the current challenges.
Calls for Immediate Action
Dr. Oppong has called on the government to act swiftly to mitigate the anticipated shortage. “The fuel shortage we find in the market has to do with the PMS. BDCs ceased to import because there was Gold-for-Oil,” he stated.
The contrasting positions of CBOD and OMCs highlight the need for collaborative efforts among stakeholders to ensure Ghana’s fuel supply remains secure and stable.
