The Institute Energy Security has said that the government quest to search for cheap reliable fuel around the world is unrealistic.
The Energy think tank believes that, it will be difficult for government to acquire such reliable fuel with the global market.
According to them, it will have to take government willingness to give up something valuable to be get such fuel.
To them, the mission is almost impossible as the delegation is likely to come empty handed.
The IES in a statement issued on Thursday November 3 reacting to the president directive to the Energy ministry said,
“Meanwhile, the search for that heavily discounted fuel price from elsewhere is an unrealistic hope, and the team may return empty handed, unless the expectation/request is exchanged with something valuable to the would-be supplier.
They believe the solution to cheaper fuel should be homegrown as they point to Tema Oil Refinery.
“If His Excellency the President and the handlers of Ghana’s Energy Ministry look within, they would find what they are desperately looking for from outside the country. Indeed the search for reliable and affordable source of petroleum products starts with the Tema Oil Refinery, which has been down since March 2021, due to lack of crude oil which is the refinery’s main raw material.
“It beats ones imagination how an oil producing country with a refinery capacity of 45,000 barrels per stream day (bpsd), would have it top government officials abandon its domestic competitive advantage, and rather seek to import refined petroleum product elsewhere, in the name of reliability and affordability.” the statement added.
President Nana Addo Dankwa Akufo-Addo announced in his address on Sunday October 30 that the government was working to secure reliable and regular sources of affordable petroleum products for the Ghanaian market to stabilise fuel prices.
source: theGhanaianvoice.com