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 national fuel imports, has historically faced serious congestion challenges. However, newly introduced port reforms and infrastructure expansion have eased this pressure, resulting in more efficient discharge timelines and reducing the financial burden on consumers.
One of the most impactful reforms has been the implementation of a transparent, rules-based system for allocating laycans (slots for vessel discharge). This has significantly reduced the estimated US$44 million in annual demurrage charges—costs that were previously passed on to consumers and reflected in pump prices ranging between GH¢11.70 and GH¢14.60 per litre.
Dr. Ofori noted that the expansion of infrastructure—particularly the construction of a second moratorium unit—has helped reduce overreliance on a single operator and is supporting Ghana’s ability to accommodate growing national and regional demand.
“It no longer makes sense to tie national security to a single operator,” he said, stressing the importance of infrastructure expansion to ensure reliable fuel supply.
He further explained that the average discharge window has decreased from over 72 hours to less than 48 hours—reducing operational costs, improving vessel turnaround times, and enabling a more stable and responsive fuel distribution system.
These reforms, he added, support Ghana’s broader vision of becoming a petroleum hub for the West African sub-region. Enhanced coordination among stakeholders and upgrades at key ports like Tema and Takoradi are positioning Ghana as a competitive and reliable player in regional energy logistics.
Dr. Ofori also highlighted the link between these operational improvements and CBOD’s ongoing foreign exchange (FX) coordination programme with the Bank of Ghana. With greater supply predictability and operational efficiency, the FX burden on Bulk Import, Distribution, and Export Companies (BIDECs) is easing—bringing more stability to import costs.
“We’re confident we’ll see full coverage of FX needs soon,” Dr. Ofori added. “The first half’s challenges have pushed the reforms we’ve long needed.”
Finally, he called on government to invest in the Western corridor and other critical areas to consolidate gains made so far and support the sector’s long-term development.
“Building on strategic reforms like this is what will set the sector up to consolidate these gains,” he added.
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