Ghana turns to Russian fuel as 320,000-barrel tanker heads to Tema

Ghana is increasingly relying on diversified fuel sources, including Russia, as a tanker carrying approximately 320,000 barrels of refined petroleum products heads towards Tema.

According to a report by Bloomberg, the vessel, identified as Hellas Fighter, loaded clean fuel products at Vysotsk in Russia and is currently en route to Ghana’s main oil hub in Tema. Ship-tracking data shows the tanker was passing Mauritania on Tuesday and is expected to arrive on April 6.

The development highlights Ghana’s ability to cushion itself against global fuel supply disruptions linked to the ongoing Iran conflict, unlike many sub-Saharan African countries that rely heavily on Middle Eastern imports.

Ghana has long depended on imported fuel due to limited domestic refining capacity. In 2023, Russia emerged as the country’s second-largest supplier of petroleum products, accounting for about 18% of mineral fuel imports, according to trade data.

Despite this, the National Petroleum Authority (NPA) insists the country does not depend on any single source.

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He added that Ghana continues to benchmark its fuel pricing against the Northwest Europe market.

The country’s diversified sourcing strategy comes at a time when several African economies are facing supply constraints. Countries such as Kenya and Zambia have reported fuel shortages, while Mozambique has experienced long queues at filling stations, largely due to disruptions affecting shipments through the Strait of Hormuz.

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Although Ghana is not entirely shielded from global price pressures, its broader supplier base offers some resilience. The Netherlands remains its largest fuel import source, while Nigeria’s Dangote refinery is emerging as a closer alternative.

“Dangote will be a good source of products to Ghana because of proximity,” Tasunti said. “The war has not had any impact on the number of international oil trading companies supplying products to Ghana.”

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The arrival of the Russian shipment underscores Ghana’s continued reliance on multiple international suppliers to maintain stable fuel availability amid global uncertainty.