Local refining cannot yet end Ghana’s fuel import dependence – Nsiah

Mr Nsiah said that as local refining capacity expanded, Ghana should gradually recalibrate its petroleum pricing framework to reflect domestic refinery costs and operational realities.

Mr Nsiah said expanding local refining capacity was an important step towards strengthening energy security but would not, on its own, insulate the country from international fuel price fluctuations.

He said Ghana consumed between 120,000 and 140,000 barrels of petroleum products daily, making current domestic refining capacity inadequate to satisfy total demand.