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Current fuel reserves can last for four weeks—NPA allays fears

Commodity News Current fuel reserves can last for four weeks—NPA allays fears
MAY 17, 2022 LISTEN

The National Petroleum Authority (NPA) has allayed fears of imminent shortage of fuel following a report shortage of petrol and diesel at some filling stations.

The Authority said though some oil marketing companies recorded shortages at some of their outlets, there was no shortage of petroleum products in the country as speculated.

It said as of Monday, May 16, 2022, the quantity of diesel available could 'feed' the country for up to four weeks while the quantity of petrol in the country's reserve could last for about six weeks.

In an interview with the Ghana News Agency, Mr Mohammed Abdul-Kudus, Head of Communications, NPA, said there was no need for panic.

He said the Authority had put adequate measures in place to ensure constant supply of fuel to meet the demands of consumers.

"Between now and the next four weeks we can't run out of diesel in Ghana," he assured.

Mr Abdul-Kudus said per the NPA's schedule, importers were allowed to import fuel into the country on quarterly basis, adding that the schedule for the last quarter would end in June, 2022.

"We work according to schedule. We don't want at a time where there would be too much fuel in the system or less oil in the system. So we have given them (the importers) the period where they are supposed to come and discharge," he said.

"This particular quarter ends in June. We have available vessels ready to supply, including what is already in the system, which is enough to satisfy the people of Ghana," Mr Abdul-Kudus added.

Motorists last week expressed fear that the country had been hit by fuel shortages following reports that some filling stations had run out of the commodity.

Analysts have warned that the ongoing Russia-Ukraine war could lead to scarcity in petroleum products as more countries applied economic sanctions against Russia- the third-largest oil producer, accounting for about 11 per cent of the world's crude oil supplies.

GNA

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