The Chamber of Oil Marketing Companies (OMCs) has issued a stark warning about an impending fuel shortage that threatens to disrupt economic activities and daily life across the country in the coming days.
The Chamber attributes this looming crisis to two major factors: the suspension of the gold-for-oil programme and the cessation of refining operations at Sentuo Oil. These developments have created a significant gap in the supply chain, raising concerns about the nation’s ability to meet its fuel demands.
Speaking on the matter, Dr. Riverson Oppong, the Chief Executive Officer of the Chamber, emphasized the urgency of the situation, calling on the government to act swiftly.
“When the gold-for-oil programme began, we saw a surge in activity, but as with any peak, there is always a decline. We raised concerns with the government about the potential repercussions, but unfortunately, those warnings were ignored,” Dr. Oppong stated.
He explained that the current fuel shortage is a direct result of a series of policy and operational lapses. “The reduction in supply, compounded by the shutdown of the Sentuo Oil refinery, has brought us to this critical juncture. The Bulk Distribution Companies (BDCs) also ceased importing petroleum products due to the dominance of the gold-for-oil programme, further exacerbating the issue,” Dr. Oppong added.
The OMCs are urging the government to take immediate and decisive steps to address the supply chain disruptions. They recommend revisiting the policies surrounding the gold-for-oil programme and ensuring the resumption of refinery operations to stabilize fuel availability.
As the nation braces for potential shortages, stakeholders across the energy and economic sectors are closely monitoring the situation, hoping for prompt intervention to avert a full-blown crisis.
Story by: Mercy Addai Turkson
