"Ghana Has Over Two Months’ Fuel Reserves

" Ghana Has Over Two Months' Fuel Reserves - NPA CEO Assures \r\n Acting Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo, has assured the public that Ghana has sufficient fuel reserves to meet national demand for more than two months, despite mounting global geopolitical uncertainties. \r\n Speaking during a sectoral engagement with the Parliamentary Select Committee on Energy at Senchi on Saturday, Mr. Tameklo disclosed that the country currently holds over 200 million litres of petrol and 150 million litres of diesel in strategic reserve. \r\n \u201cI can assure the good people of Ghana that we have enough stock to last us beyond two months, and with all the ongoing efforts, we are confident that there will be no supply disruptions,\u201d Mr. Tameklo said. \r\n He further revealed that petroleum vessels had already berthed in Ghanaian waters, while the Dangote Refinery in Nigeria is producing significant volumes of refined fuel products\u2014an additional source expected to cushion Ghana\u2019s domestic supply. \r\n The Energy Committee, led by Chairperson Emmanuel Kwasi Bedzrah, is conducting a nationwide tour to assess the operational readiness and challenges of institutions in the energy sector. \r\n Fuel Levy and Geopolitical Concerns \r\n On the controversial GH\u20b51 fuel levy, Mr. Tameklo explained that government is adopting a cautious approach, closely monitoring the impact of the Israel-Iran conflict, particularly concerning tensions in the Strait of Hormuz, a key international shipping route. \r\n \u201cAt this stage, there is no significant disruption in the Strait of Hormuz. We are confident that if conditions remain stable, the government will communicate a decision on the levy\u2019s implementation soon,\u201d he noted. \r\n The planned implementation date of June 16, 2025, was postponed to allow for further consultations with key stakeholders, including the Chamber of Bulk Oil Distributors and following a last-minute directive from the Minister of Finance. \r\n Mr. Tameklo emphasised that engagements with the Chamber of Oil Marketing Companies are ongoing to ensure transparency and consensus ahead of the levy\u2019s rollout. \r\n On ESLA and Policy Alternatives \r\n Reacting to calls from the Minority in Parliament for the repeal of the Energy Sector Levies Act (ESLA), the NPA boss criticised the opposition\u2019s position, noting the absence of a credible funding alternative for critical fuel imports. \r\n \u201cWe still need liquid fuel to keep our lights on. If the Minority has a workable alternative, I believe President John Dramani Mahama, a listening president, would consider it,\u201d Mr. Tameklo stated. \r\n He added that the government remains committed to ensuring energy sector stability, highlighting recent gains such as a GH\u20b54 reduction in petroleum pump prices, driven by exchange rate interventions and improved forex availability. \r\n Global Outlook and Domestic Resilience \r\n On the broader geopolitical landscape, Mr. Tameklo said while tensions between Israel and Iran remain a concern, diplomatic efforts by global powers offer a pathway toward de-escalation. \r\n \u201cIt\u2019s early days yet, but the major powers involved in global diplomacy are engaging the key actors. There is optimism that negotiations will prevail,\u201d he said. \r\n Mr. Tameklo concluded by reaffirming the NPA\u2019s commitment to ensuring fuel security, stabilising prices, and safeguarding power supply across households and industries, as government continues to monitor and respond to global energy developments. "

"Ghana Has Over Two Months’ Fuel Reserves

Databank Maintains 4.5% 2025 Growth Forecast Despite Q2 RevisionAMP

GSE Composite Index Climbs to 7,829 Points as Market Cap Hits GHS 158bnAMP

Ghana Signs $256m Bilateral Debt Restructuring Deal with UKAMP