National Petroleum Authority assures consistent Sentuo refinery output

The National Petroleum Authority (NPA) has expressed confidence in the consistent output of the Sentuo Oil Refinery through December. NPA Chief Executive Edudzi Tameklo stated that the country currently maintains at least six weeks of fuel cover, supplemented by significant volumes of petroleum products currently on vessels heading to Ghana.

Dr. Patrick Kwaku Ofori of the Chamber of Bulk Oil Distributors (CBOD) noted that the combined operations of the Sentuo and Tema Oil Refineries could potentially meet between 25 and 30 per cent of Ghana's national fuel consumption. While this domestic refining capacity helps reduce supply insecurity, Ofori cautioned that it is unlikely to lead to immediate reductions in pump prices, as both refineries purchase crude oil at international benchmark prices.

To prevent private fuel companies from exerting undue control over the market, the NPA has implemented safeguards within the downstream petroleum sector. While the sector faces pressure from rising international crude and refined petroleum prices, the NPA maintains that the primary concern is price volatility rather than product availability.