Tuesday, 03 March

Government moves to safeguard fuel security amid Middle East crisis

News
John Abdulai Jinapor

The Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has convened a high-level meeting with key players in Ghana’s petroleum industry to evaluate the potential effects of the escalating Middle East crisis on the country’s fuel security.

The meeting forms part of the government’s proactive strategy to anticipate possible supply disruptions and safeguard stable energy availability across the country.

Representatives from major institutions along the petroleum value chain participated in the engagement, including the National Petroleum Authority (NPA), BOSTEnergies, Ghana National Petroleum Corporation (GNPC), Oil Marketing Companies (OMCs) and Bulk Import, Distribution and Export Companies (BIDECs), among other industry stakeholders.

Discussions focused on heightened volatility in the global oil market, potential supply chain disruptions, rising freight costs and the likely impact on domestic fuel prices and consumer welfare.

Participants also explored measures to cushion the country’s fuel supply against possible shocks arising from the geopolitical tensions in the Middle East.

Dr Jinapor underscored the need for decisive and preventive action to protect Ghana’s energy security.

He revealed that existing contingency plans are being reviewed and strengthened to mitigate any adverse impact that could result from further escalation of the crisis.

The Minister further tasked the NPA, in its role as downstream regulator, to intensify market surveillance and strengthen coordination with industry operators.

He also urged relevant agencies to maintain adequate strategic fuel reserves, closely monitor developments on the international market and ensure the uninterrupted distribution of petroleum products nationwide.

 

The government has assured the public of its commitment to preserving Ghana’s energy stability and indicated that all necessary steps are being taken to maintain fuel availability while minimising potential hardship for consumers.

Source: Classfmonline.com/Cecil Mensah