In order to improve trade in petroleum products between Ghana and Burkina Faso, the National Petroleum Authority (NPA) is reviewing export and transit agreements with the Burkina Faso National Hydrocarbons Company (SONABHY) .
SONABHY is the only institution mandated by law to import and distribute petroleum products in Burkina Faso.
The review aims, among other things, to strengthen collaborations between Ghana and Burkina Faso in the supply of petroleum products.
Dr. Mustapha Abdul-Hamid, the director general of the NPA who made this known during a courtesy visit to the leadership of SONABHY in Ouagadougou, Burkina Faso, said that “the meeting was aimed at ensuring that we are tightening up the processes on petroleum products. I hope we can strengthen the process that does not allow leaks or people to transport products in order to deliver them to Ouagadougou only divert them ”.
Dr Abdul-Hamid noted that diesel exports to Burkina Faso have been declining since 2019 by around 72% compared to 2020 volume.
He called on SONABHY to improve its imports from Ghana, as the landlocked country currently imports 15% of its petroleum products from Ghana against the remaining 85% supplied by Togo and Côte d’Ivoire.
The low import of petroleum products from Ghana is attributed to the high cost of the products due to its high specifications (50 ppm) compared to products supplied by other countries such as Ivory Coast and Togo (3000 ppm).
SONABHY Executive Director Hilaire Kaboré, welcoming the NPA team, said that with the adoption of cleaner fuels by ECOWAS earlier this year, its oil trading activities in Ghana would experience a boom. increase in the next few days.
“In January 2021, ECOWAS issued a directive which I believe will help our activities in Ghana. Normally, all imports of petroleum products should meet the specifications (50 ppm) that Ghana adopted in 2017, ”he noted.
The SONABHY boss revealed that they are already in discussions with Ghanaian companies to sign additional storage agreements in anticipation of increased exports from Ghana.
“The roads in Ghana are good, the distance is not too long…”, he said adding that “we therefore assure you that once the harmonization of fuel specifications in the sub-region is concluded, you should see volumes and export activity increase across Ghana ”