The Chamber of Oil Marketing Companies (COMAC) has dismissed recent media reports suggesting that its CEO cautioned about an imminent fuel shortage in Ghana. According to COMAC, these reports are inaccurate and have caused unnecessary public anxiety.
In a statement, COMAC explained that its Chief Executive Officer, Dr. Riverson Oppong, did not warn of an impending fuel shortage. Instead, Dr. Oppong provided an update on the temporary reduction in petrol stock, caused by operational factors, including the suspension of refining activities at Sentuo Oil Refinery.
COMAC assured the public that the current stock of petrol can cover approximately three weeks of the country’s demand. Furthermore, vessels are currently discharging petrol, and others are waiting to discharge, effectively mitigating any risk of a fuel shortage.
Regarding the Gold-for-Oil (G4O) policy, COMAC clarified that Dr. Oppong did not suggest that the policy is a solution to fuel shortages. Instead, he advocated for a review of the policy to optimize its implementation and usefulness, given the evolving consumption dynamics in the industry.
COMAC reiterated its support for initiatives that enhance efficiency, stability, and sustainability within the petroleum sector. The Chamber urged media outlets to report responsibly and avoid disseminating information that may cause unnecessary public anxiety.
COMAC assured the public that there is no looming fuel shortage, as adequate supplies are currently available at the ports, with additional volumes expected to further cushion the market.
Source: https://energynewsafrica.com
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