News

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

The Chief Executive Officer of CBOD, Dr. Ofori, has reassured Ghanaians that the country’s fuel supply is stable, with no risk of shortages in the near term. Speaking during an interview on TV3’s Business Focus, Dr. Ofori emphasised that, based on scheduled deliveries and current stock levels, there is no threat to the consistent availability

The Chamber has stated that fuel prices at the pump could have dropped significantly if inefficiencies in Ghana’s petroleum delivery system, particularly the management of Laycan schedules, were addressed. Speaking on TV3’s Business Focus, Dr. Ofori highlighted that the Ghanaian cedi has remained relatively stable and international fuel prices have not experienced major surges. Yet,

Accra, Ghana – 23rd June 2025 – The Chamber of Bulk Oil Distributors (CBOD) expresses deep concern and disappointment over the persistent disruption of the Laycan import programme and calls on the Ministry of Energy and Green Transition to act swiftly to safeguard the integrity of Ghana’s fuel import system. The Laycan schedule, developed through

Crude Oil and Refined Products Market Review and Outlook  The global market price of crude has been on a downward trajectory since third Quarter three (Q3) 2024. Crude oil prices in the global market have declined by about 10.81% from Q1 2025 to Q2. Specifically, crude oil declined by about 9.36% since January 2025. Moreover,