Ghana happy over Dangote Refinery, says import would reduce

The high importation of petroleum products is affecting Ghana's energy supply due to the deregulation of the downstream sector.

The country has been a net exporter of crude oil since 2010 and is very vulnerable to volatile oil prices due to importation, mainly from Europe.

Refinery to Ghana's energy around

Business Insider report said that Ghana's Chief Executive Officer of the National Petroleum Authority (NPA) of Ghana, Mustapha Abdul-Hamid says the coming onstream of the Dangote Refinery would transform the downstream sector in Ghana.

Abdul-Hamid said the 650,000 barrels per day refinery would turn the Ghanaian petroleum industry around by reducing the cost of imports.

Speaking at the 16th Trading and Logistics Expo in Lagos, Abdul-Hamid said the completion of the Dangote Refinery would boost the petrol supply to Ghana and the West African region.

Ghana building $60 billion petroleum hub

Abdul-Hamid also praised the decision by the Ghanaian government to build a $60 billion petroleum nucleus on a 20,000-acres of land in the western part of the country for storage and marine structures.

According to him, the project will help boost the petroleum nexus, which is made of refineries and petrochemical development of the continent's oil and gas resources, by connecting the downstream to the upstream.