The National Petroleum Authority (NPA) has held its 2023 Central Regional Media Engagement Forum to sensitize journalists on fuel supply and availability in Ghana.
The forum was held on Wednesday, June 7, 2023, in Cape Coast to sensitize journalists on Petroleum products, Fuel sourcing in Ghana as well as the legal issues confronting the authority.
According to the Head of Planning at NPA, Dominic Aboagye, about 80% of Ghana’s fuel products consumed or still on the market are imported as such the supply of fuel is tilted towards imports, while the remaining 20% comes from local production.
He explains that this figure actually changes depending on what the state of play is in the local refining capacity or local production.
Delivering a presentation on the topic: Fuel Supply and Availability in Ghana, Mr. Dominic Aboagye recounted that there are major threats and risks to fuel supply in Ghana.
He ascribed these threats and risks to geopolitical issues, climate action policies, forex liquidity risk, and inclement weather citing Russia’s invasion of Europe and its implication on fuel supply, cedi losing to the dollar, and renewable sources of energy as major examples of these threats.
For instance, he said “Essentially, what our big brothers in the west are saying is stop using petrol, diesel, they are not good for the environment, I am not interested in producing that kind of fuel again; I’m moving to renewable sources of energy. So, there’s a major threat, and risk to supply.
In an attempt to ensure the security of fuel supply, he says the NPA undertakes several activities such as rigorous monitoring of data programmes, special forex auctions by the Bank of Ghana, Gold for Oil program among others to ensure the country not lose on fuel supply.
On his part, Legal Manager, Farida Ali-Musah revealed that the NPA is currently faced with numerous legal breaches including misappropriation of prescribed petroleum pricing formula, engagement in the activities in the downstream industry without a license, false statements, and withholding of material information.
She, therefore, appealed to the media, law enforcement agencies, and all other stakeholders to assist the NPA to fight such illegalities.
The forum aimed at helping journalists understand and educate the public on legal issues, as well as problems confronting the authority in other for the necessary actions to be taken to mitigate rules of NPA rules and regulations.
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Source: Eric Sekyi/ATLFMNEWS
