Russian Fuel Cargo Shows Ghana’s Resilience to War Supply Shock

Ghana is better insulated from fuel-supply disruptions linked to the Iran conflict than many sub-Saharan African peers thanks to its range of sources, including shipments from Russia.

A tanker carrying refined fuel from Russia is currently heading to Ghana, underscoring those ongoing flows. The Hellas Fighter loaded clean products at Vysotsk and is bound for Tema, Ghana’s main oil hub, according to ship-tracking data compiled by Bloomberg. The vessel was passing Mauritania on Tuesday with about 320,000 barrels onboard and is expected to arrive on April 6.

Russian shipments have helped Ghana meet domestic fuel demand for years. With limited refining capacity, the country remains reliant on imports. Russia was its second-largest supplier of petroleum products in 2023, accounting for about 18% of mineral fuel imports, according to a trade report.

Source: Bloomberg