The Executive Director of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has urged a comprehensive overhaul of Ghana's energy policy, warning that the nation's overdependence on imported refined petroleum products renders it highly susceptible to global oil market disruptions.
In an interview with Channel One TV on Saturday, 14 June, Mr Amoah cautioned that escalating tensions between Israel and Iran are already affecting global crude prices, and Ghana's lack of self-reliance in refining its own resources places the economy in a precarious position. "There is a lot of geopolitical tension.
We cannot continue to be price seekers; we cannot continue to be global observers.
We cannot continue to allow international oil marketing companies to come down here, take our hydrocarbon resources and ship everything back to Europe, go refine and process them, and then we will go back with our cargos for the refined product to our country for $400 every month," he lamented.
