Mahama Making Ghana Petroleum Market

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..Mali, Burkina, Nigeria & Cote d’Ivoire Getting Supplies From TOR’s Production

Ghana, has commenced exporting petroleum products from it depot in Bolgatanga in the Upper East Region to neighbouring Burkina Faso and Mali, and there are plans to supply to Liberia, Sierra Leone and Angola, President John Dramani Mahama, has revealed.

On a daily basis, a total of 40 tankers, full of petrol and petroleum products, are sent to these landlocked countries, following the revival of the Tema Oil Refinery (TOR) by Kingsley Awuah-Darko and his team, who recently declared profit for the first time in many years.

President Mahama, who made the disclosure last Thursday, while addressing the Ghanaian community in Tokyo – Japan during his Official Working Visit to that country, further revealed that “recently, we supplied Nigeria with 130,000 tons of petroleum product”.

Additionally, Mr. Mahama said, Ghana’s Bulk Oil Storage and Transport (BOST), also won a competitive tender process to supply another neighbouring country; Cote d’Ivoire with 35, 000 tons of petroleum products.

While, satisfying Ghanaian consumers with their daily demands, President Mahama said, “we have achieved security in terms of petroleum products; we are required to keep 6 weeks of strategic stock. We have 8 and half weeks of strategic stock and so, all our petroleum storage tanks are full and so
the days of queues and petroleum shortages are over, our tanks are all full”.

He told the packed room, “My vision is to make Ghana the hub for petroleum distribution in West Africa. And so, we are building additional storage tanks and then, we are increasing what we call a Special Boring Mechanism, is a mechanism for loading and offloading fuel”.

He talked about a petroleum infrastructure which will enable “the big super tankers come with the fuel and offload into the tanks in Tema and in Takoradi in the Western Region, and then the smaller tankers, will reload to deliver to say Liberia, Serra Leone and other places, all the way to Dakar and then all the way down south to Angola”.

President Mahama explained that, “all the countries there, import petroleum products and so if Ghana becomes the hub for storage and redistributing that is not only going to create jobs, but it is going to provide income for us and that is beginning to happen”.

On the new oil and gas sector, he said, Western Region where most of the activities happen is “becoming a new growth pole”.

He said, the Local Content Act, which is playing a very critical role, has helped locals to benefit tremendously, and since 2011, Ghanaian
companies, have received billions of contracts.

“We have a new oil and gas industry that is growing, so if you go to the Western Region, I don’t know how many of you have gone home recently, but if you drive from Takoradi to Agona Junction, you will see all the fabrication yards and the various engineering depots and other things coming up from both left and right sides of the road.

“That shows that the Western Region, is becoming a new growth pole for Ghana. We have had virtually a single growth pole that is Tema, because Nkrumah set up industrial companies there, but you can see that a new growth pole is coming up in Western Region, in terms of the oil and gas industry”, he observed.

Because of the local content law we’ve passed, many Ghanaian companies are getting contracts from the oil and gas companies and they are taken advantages of it”, the president said.

He added “we estimate that since 2011, when we started oil and gas productions in Ghana, at least Ghanaian companies, have earned in excess of $1. 5billion in contracts from oil and gas and that is going to increase with the new discoveries that have been made. I cut the sod recently for the start of the ENI project, which is a 7 billion investment in the Ghanaian economy to produce mostly gas for power production”.

He went to say “we also have the TEN field just coming on stream by August and it will increase Ghana’s oil production. The president, told the gathering; major oil and gas companies in that sector have been told and are guided by the local content law, which directs them to engage a lot of the Ghanaians to do a lot of the work”.

The President noted that many companies are training Ghanaians abroad, and upon completion of their courses, they will come home to work in the sector.

He also mentioned the Kumasi Shoe Factory, which is making sandals for thousands of Ghanaian school children from deprived communities, the Komenda Sugar Factory, which will be commissioned soon as some of the many enterprises that have been brought alive to bring relief to Ghanaians.

The Komenda Sugar Factory, when commission will produce 250, 000 tons of sugar per year, adding a similar factory, is going to be built at Savlugu in the Northern Region, saying “those industries, we are strategically reawakening them.

“We have targeted some of the industries that Dr. Kwame Nkrumah established to revive them and so if you go today, the Kumasi Shoe Factory is working. It is producing boots for our security services. Last year, we produced 10,000 sandals school for children in deprived communities”.

In the likely event that, the indigenes take up the challenge to produce the raw material, Ghana, will be able to produce a large amount of the sugar consumed in Ghana and also export to countries such as Burkina Faso, Mali, Niger, as there is a huge market in the sub-region.

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