Ghana turns to Dangote Refinery for fuel imports

Ghana may be looking at purchasing petroleum products from the Dangote Petroleum Refinery once it reaches full capacity.

This was announced by Mustapha Abdul-Hamid, Chairman of the Ghana National Petroleum Authority (NPA), at the OTL Africa Downstream Oil Conference in Lagos on Monday.

The Dangote refinery, owned by Africa’s richest man, Aliko Dangote, began operations in January, producing diesel and aviation fuel, and officially announced the commencement of refining crude oil on September 3. With a capacity of 650,000 barrels per day, the refinery is expected to operate at near full capacity by year-end.

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According to Abdul-Hamid, importing from the Dangote refinery will help Ghana reduce its reliance on expensive European exports, which cost the country approximately $400 million monthly.

“If the refinery reaches 650,000 bpd a day capacity, all that volume cannot be consumed by Nigeria alone, so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria and I believe that will bring down our prices,” he explained.

The Association of Oil Marketing Companies (AOMCs) in Ghana forecasts a marginal reduction in petrol and diesel prices, starting September 16, provided the cedi remains stable against the dollar.

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