Ghana’s Energy Minister John Jinapor says the country has taken delivery of 450,000 barrels of light crude oil, aimed at replenishing the nation’s critically low fuel reserves and mitigating the ongoing power crisis.
The minister confirmed the delivery during a radio interview on Citi FM earlier this week, saying the fuel discharge process had already commenced to meet demand at the country’s thermal plants.
“The vessel has arrived. We are okay with the fuel. We are going to start the discharge,” Mr. Jinapor stated during the radio show.
Jinapor said the fuel consignment had been ordered over a month ago, citing logistical timelines from Nigeria to Ghana.
The shipment arrives amid concerns over the country’s dwindling fuel stock.
Last week, he told members of Ghana’s parliament that the country’s fuel reserves had dropped to just 2.6 days of supply, a statement that has since created panic nationwide.
However, the Minister has urged for calm with the fuel delivery.
In addition to this, the Ministry of Energy has secured additional supplies of heavy fuel oil and diesel to ensure the uninterrupted operation of thermal plants.
Mr. Jinapor highlighted that under his leadership, a previous power shortfall of about 780 MW had been addressed, and load-shedding had been eliminated through effective management and fuel procurement strategies.
The Minister also addressed concerns regarding a potential shutdown by power producer Karpowership, which had earlier threatened to cease operations due to nearly $400 million in unpaid debts.
He confirmed that the issue has been resolved and that the company will continue providing power while negotiations for phased payments are underway.
Despite being an oil producer, Ghana depends on imports for over 90% of its refined petroleum products. This has aggravated an outstanding energy debt.
The federal government has vowed to change the narrative in the near future through various measures.
Phase one of the Sentuo oil refinery has started production, while rehabilitation works on the Tema oil refinery are still ongoing.
The Ministry recently launched several off- and mini-grid solar projects in various regions to diversify the country’s energy mix and reduce dependence on fossil fuels.