EMEA News
Ghana Bunker Market Expects Improved Supply as Tema Refinery Expands
Ghana's bunker market is expecting an improvement in product availability with an expansion of the Tema refinery.
Energy firm the Sentuo Group has announced plans to invest $980 million into the refinery, with the expectation of increasing its production capacity by 2 million mt/year in the first phase and a further 3.million mt/year in a planned second phase.
The refinery currently produces 70,000 mt/year of fuel oil.
AI Energy, a leading offshore bunkering company in Ghana, expects the country's bunker prices to become more competitive as the plant expands, a company representative told Ship & Bunker on Thursday.
"This development, in AI Energy and Petroleum's view, will engender product availability any time and therefore enhance efficiency, effectiveness and reliability in bunkering activities in West Africa and beyond," the company representative said.
"It will also play a significant role in pricing."
West Africa's bunker market is seeing stronger demand this year as ships divert around the Cape of Good Hope to avoid attacks from Yemen while passing through the Red Sea and Suez Canal.
