Ghana facing fuel crisis as national reserves near empty – COMAC warns

Chief Executive of the Chamber of Oil Marketing Companies, Dr. Riverson Oppong, has issued a stark warning about Ghana’s dangerously low state-owned fuel reserves.

According to him, the Bulk Oil Storage and Transportation Company (BOST) may have less than a week’s supply remaining, a situation he describes as “terrifying.”

In a recent interview, Dr. Oppong highlighted the urgent threat to national energy security, particularly in light of escalating geopolitical tensions that could disrupt global fuel supply chains.

“As we speak today, I doubt BOST can provide even a week’s worth of fuel for the country, that is deeply alarming, especially since BOST does not maintain any strategic reserves for emergencies,” he stated.

Dr. Oppong attributed the crisis partly to government policies that he says favour private fuel importers at the expense of BOST.

He pointed specifically to delays in securing a LECAN clearance, an official authorisation from the National Petroleum Authority (NPA) that allows vessels to dock and offload fuel.

“LECAN is the key approval that unlocks both financial and logistical access to bring fuel into the country. Without it, no imports can happen and BOST has consistently been denied or delayed this clearance,” he explained.

With rising instability in the Middle East, especially around the Strait of Hormuz, a critical oil transit route.

Dr. Oppong warned that Ghana could face severe fuel shortages and price spikes if urgent measures are not taken.

He called on the government to immediately review its energy strategy and empower BOST to rebuild its reserves, emphasising that fuel security is a national priority, not just a market issue.