Security analyst, Dr Ishmael Norman, has called on the Mahama government to secure alternative sources of oil for Ghana in response to escalating tensions in the Middle East.
Speaking with Umaru Sanda Amadu on Channel One TV’s The Big Issue on Saturday, March 14, Dr. Norman warned that the ongoing conflict between Israel, the United States, and Iran could disrupt global oil supplies, potentially affecting Ghana’s energy security.
He noted that the conflict, which has intensified since recent military strikes in the Middle East, could last for at least six months or longer, creating risks of price spikes and supply bottlenecks for countries dependent on Middle Eastern crude.
Dr. Norman suggested that Ghana consider purchasing crude from alternative suppliers such as Dangote in Nigeria and Equatorial Guinea.
He also highlighted the potential for local refining by the Tema Oil Refinery (TOR), although he acknowledged that initial output might not meet high standards.
Dr. Norman emphasised that proactive planning is critical for Ghana to avoid potential energy shortages and inflationary pressures linked to oil supply disruptions.
“We should prepare ourselves as a nation when it comes to oil consumption. We should find different sources-Dangote, Equatorial Guinea are there. We can buy the crude from there. TOR is now in a position to do a bit of the refining for us. Even though it won’t be very clean. We should begin to work on that. I believe that there are other sources; they could be expensive- the shipping route can be redirected. This war will continue at least six months if not longer,” he said
The conflict in the Middle East has disrupted several global shipping lanes and raised concerns about the stability of oil markets, with major economies seeking to diversify their energy supply chains.
