ACCRA: Ghana imported over 1.7 million metric tonnes of petroleum products in the first half of this year at the cost of over $1 billion.
The actual figures are 1,781,258.114 metric tonnes of petroleum products at a cost of $1,057,877,511.61, data from the National Petroleum Authority (NPA) has revealed.
Out of this, Bulk Oil Distributors (BDCs) imported 1,183,471.728, metric tonnes at a cost of $781,887,783.36, representing 66.48%, while Bulk Oil Storage and Transportation (BOST), which has the primary responsibility of maintaining national strategic stock, imported 299,608.398 metric tonnes valued at $209,401.03, representing 16.82%.
From the data, BOST is now actively involved in the importation and distribution of petroleum products, and has increased importation of refined products for sale from 189,346.50 metric tonnes, representing 10% in 2014 to 299,608.398 metric tonnes, representing 16.82% for the first six months of 2015.
With the NPA data, BOST supplied only 16.82% and not 80% as stated in some media publications.
However, it is clear BOST is posing stiff competition to BDCs and could make business difficult for the BDCs.
Tema Oil Refinery, Volta River Authority (VRA) Oil Trading Companies (OTC) imported the remaining 29, 8177.988 metric tonnes, representing 16.7%.
For the entire 2014, 3,678,049.650 metric tonnes of petroleum products were imported at a cost of $3,316,569,132.08.
Out of this, Bulk Oil Distributors accounted for 1,544,119.482 metric tonnes worth $1,624,472,485.113, representing 87.34%, while BOST imported the remaining 222,880 metric tonnes, representing 12.66%.
The breakdown are crude – 284,296.580 metric tonnes; fuel oil – 48,615.379 metric tonnes; gas oil – 1,742,070.009 metric tonnes; gasoline – 1,254,287.834 metric tonnes; LPG – 236,375.651; and ATK – 112,404.197 metric tonnes.
Between January and June 2014, total petroleum products imported was 1,768,000.166 metric tonnes at a cost of $1,689,080,626.177.
This year, the petroleum products imported in the first half of this year are crude oil – 197,616.704 metric tonnes; gas oil – 812,957.29 metric tonnes; gasoline – 582,968.498 metric tonnes; Liquefied Petroleum Gas (LPG) – 98,007.914 metric tonnes; and ATK – 43,118.709 metric tonnes.
The breakdown of crude oil imports for the first six months of 2015 are January – 61,133.130 metric tonnes; February – 34,083.862 metric tonnes; March – 40,013.620; no import in April; May – 44,756.493 metric tonnes; and June – 17,629.599 metric tonnes.
