Ghana plans to scale back its reliance on pricey European gas imports by buying petroleum merchandise from Nigeria’s Dangote Oil Refinery as soon as it reaches full operational capability. On the OTL Africa Downstream oil convention in Lagos, Ghana’s Nationwide Petroleum Authority Chairman Mustapha Abdul-Hamid highlighted that importing gas from Nigeria may assist Ghana lower down on the $400 million it spends on gas importation each month. In keeping with him, this transfer will doubtlessly decrease home gas costs and, by extension, the costs of products and providers throughout Ghana. The Dangote refinery, with a capability of 650,000 barrels per day, is predicted to function close to capability by late 2024, reaching full capability in early 2025. Abdul-Hamid additionally urged that an eventual African widespread foreign money would reduce dependence on the US greenback, benefiting economies throughout the continent. Ghana’s rising economic system, led by enlargement within the extractive sector, has pushed excessive demand for gas.
SOURCE: REUTERS