News

Crude Oil and Refined Products Market Review and Outlook Crude oil prices in the global market declined by about 3.69% compared to the previous pricing window, demonstrating the sector’s recovery from the geopolitical tensions in Q2 that spiked prices considerably around the period. Similarly, refined petroleum products (petrol, diesel, LPG, and ATK) fell considerably within […]

Crude Oil and Refined Products Market Review and Outlook The global market has largely recovered from the geopolitical tensions in June that hiked supply-risk premiums and disrupted the supply chain in June and July 2025. Crude and petroleum product prices rose sharply in June when Israel attacked Iran’s nuclear sites. The attacks led to retaliatory

The Chamber of Bulk Oil Distributors (CBOD) has laid flowers in honour of the eight gallant lives lost in the recent Ghana Armed Forces helicopter crash. The solemn tribute on Monday, August 11, was part of nationwide activities to mourn the deceased and stand in solidarity with their families. The nation has been in deep

The Chamber of Bulk Oil Distributors (CBOD) extends its deepest condolences to the bereaved families, friends and the nation at large following the tragic military helicopter crash that claimed the lives of eight distinguished Ghanaians in line of national duty on Wednesday, 6th August 2025 in the Adansi Akrofuom District of the Ashanti Region. We

Crude Oil and Refined Products Market Review and Outlook  Heightened geopolitical tensions and hikes in supply-risk premiums resulted in a temporary surge in crude oil prices in June by about 13%. This was largely due to the impact of the Israel–Iran conflict that resulted in the Parliament of Iran threatening the closure of the Strait

Among the many factors that impact the operations and efficiency of Petroleum Service Providers (PSPs) in the Downstream Petroleum Sector of Ghana is inadequate infrastructure. Infrastructure is the backbone of the petroleum sector, especially given the sensitive nature of petroleum products. Although emphasis has always been given to the impact of international price volatilities of

 The Chamber of Bulk Oil Distributors (CBOD) is urging government to prioritise the rehabilitation of critical petroleum haulage routes using proceeds from the GHS1 levy placed on every litre of fuel sold in the country. According to CBOD CEO, Dr. Patrick Kwaku Ofori, the poor condition of key transport roads—used to move petroleum products from

Our CEO, Dr. Patrick Ofori, in a conversation with the Business & Financial Times, has stated that recent structural reforms at Ghana’s main petroleum discharge point are already yielding positive outcomes—cutting demurrage costs, improving operational efficiency, and enhancing national fuel supply security. The country’s Single Point Mooring (SPM) facility, which handles nearly 80 percent of

Crude Oil and Refined Products Market Review and Outlook The international market price of crude and petroleum products has resumed trending downwards after the ephemeral spike during the Israel–Iran conflict. Although global crude prices have been on a downward trajectory since the third Quarter (Q3) of 2024 due to the uncertainties in the global economy

Crude Oil and Refined Products Market Review and Outlook  The international market price of crude and petroleum products have been on a downward trajectory since third Quarter (Q3) 2024. The international market price of crude oil declined by about 12.13% on a year-on-year basis. Moreover, refined petroleum products including petrol, diesel, LPG, and kerosene have