OMCs warn of looming fuel shortages

The Chamber of Oil Marketing Companies (OMCs) has warned of a potential fuel shortage in Ghana due to the suspension of the gold-for-oil programme and the halt of Sentuo Oil's refining operations.

Dr. Riverson Oppong, CEO of the Chamber, criticized the government for not heeding earlier warnings about the risks associated with the gold-for-oil initiative.

He explained that the programme initially peaked but later declined, disrupting supply chains. The situation worsened when Bulk Distribution Companies (BDCs) stopped imports, relying instead on the gold-for-oil arrangement.

Dr. Oppong called on the government to take immediate action to prevent the anticipated shortage, emphasizing that current challenges are linked to the supply of Premium Motor Spirit (PMS) and the refinery’s operational halt.