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15.01.2017 Business & Finance

Ghana safe from kerosene shortage – Energy Institute

By CitiFMonline
Ghana safe from kerosene shortage – Energy Institute
LISTEN JAN 15, 2017

The Institute for Energy Security (IES) has downplayed fears of a likely shortage of Kerosene following scarcity of the product in Nigeria.

According to the Institute, Ghana has about 20 million litres of domestic kerosene and seven thousand liters of aviation kerosene available and will not be experiencing a shortage any time soon.

“Ghanaians need not to be alarmed about the shortage of kerosene in Nigeria which has pestered for about three months. The reason is that Ghana does not likely depend on Nigeria for finished products. If you talk of Kerosene, ATK, petrol and diesel we don't depend on Nigeria,”

“If you look at the stock of kerosene we have in tank today, Tema Oil Refinery can talk about 18,000 cubic liters of kerosene, they can boast of about 15,000 cubic liters of aviation turbine carrageenan. Hence I assure Ghanaians that there is no cause for alarm,” Head of Research at the Institute for Energy Security (IES) Kwesi Anamoah Sakyi stated.

Nigeria for the past three months has been experiencing scarcity of kerosene across its major cities and towns.

The situation according to reports has also caused some residents to resort to other alternatives such as firewood and cooking gas for domestic use.

The situation has also forced the marketers that have the product in their stations to increase the price by over 60%.

But commenting on the issue, Mr. Sakyi said the local BDC's acquire the product from Europe and thus there is enough of the product in stock.

“For domestic kerosene we can talk of about 20 million liters. When we talk about aviation turbine kerosene, what we have in tank is about seven thousand cubic liters.

“Our Bulk Distribution Companies (BDCs) buy the stock from Europe. These European vessels come onto the African waters onto the shores of Ghana to distribute to the various BDC's.” he said.


By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana

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