Dangote Refinery’ll remodel our downstream sector – Ghana Petroleum Authority

Chief Govt Officer, of the Nationwide Petroleum Authority (NPA) of Ghana, Mustapha Abdul-Hamid, stated the approaching onstream of 650,000 barrels-per-day (bpd) Dangote Petroleum Refinery will remodel the Ghanaian downstream sector via the discount in the price of importation of petroleum merchandise into Ghana.

Talking on the sixteenth Oil Buying and selling and Logistics Expo in Lagos with the theme: “Regulating Downstream Vitality Transition in Dynamic Instances”, Abdul-Hamid stated the completion of the Dangote Petroleum Refinery challenge can be a breakthrough for the West African area which has for a very long time trusted importation of petroleum merchandise.

In line with him, Ghana is presently going through the problem of steady rise in the price of petroleum merchandise, including that getting importers to show their consideration in the direction of Nigeria, relatively than going all the way in which to the Netherlands for petroleum merchandise importation, would assist his nation stem the tide of a steady improve within the worth of gas. 

He acknowledged: “The Dangote Petroleum Refinery could have a big impact on Ghana’s downstream sector. Proper now, Ghana’s downstream business is totally deregulated. There isn’t any petrol subsidy in Ghana. For a deregulated market the place the importers get better their prices absolutely, importing from Nigeria will definitely be more cost effective and cheaper than importing from Rotterdam within the Netherlands the place we get the majority of our gas in Ghana.

“As everyone knows, the value builds up for a liter of gas will embody the price of cargo, transportation, insurance coverage, and others, but when we’re importing from Nigeria into Ghana, it will deliver down the price of gas in our nation. Ghanaians are very excited in regards to the prospect of the Dangote Petroleum Refinery. Ghana had up to now constructed relationship the place we get petroleum merchandise from Nigeria at an inexpensive and extra inexpensive value. I imagine that the approaching onstream of Dangote Petroleum Refinery will additional strengthen the present relationship between Nigeria and Ghana.”

Abdul-Hamid stated the Ghanaian authorities was additionally growing a 60-billion-dollar petroleum hub challenge on 20,000 acres within the western a part of the nation for storage and marine services.