COMAC flags ‘unrealistic’ oil lifting by Moari, Yass Petroleum

The Chamber of Oil Marketing Companies (COMAC) has raised concerns over what it describes as “unrealistic oil lifting” by two oil marketing firms, Moari Oil and Yass Petroleum, in its 2025 half-year performance report.

According to COMAC, several irregularities were identified in the regional distribution data, with the Upper East and Upper West regions recording unusually high demand levels.

The chamber stated that this trend does not align with historical data and market dynamics.

COMAC’s Chief Executive Officer (CEO), Dr Riverson Oppong, said the reported volumes from the two companies far exceed what their operational capacity can support. He explained that Moari and Yass posted growth of more than 300 per cent, despite operating only a handful of stations.

“If you look at how many stations they own, or they operate, and look at how much volumes they are selling, it is ridiculous. It is not possible,” Dr Oppong stressed.

He indicated that the chamber’s data analysis shows fuel consumption in the Upper East alone increased by over 80 per cent, far above projections.

“If you pick two years in a row, you’re going to hit about 240 per cent increase in Upper East and Upper West. And the question you’re going to ask yourself is what is the demand out for these two regions?” the COMAC CEO noted.

Dr Oppong also questioned the regional dynamics, pointing out that cross-border fuel purchases do not justify the rise.

“If the floor price in Burkina was higher than Ghana, it could have been that border towns are picking fuel from here, but fuel in Burkina is cheaper than Ghana. So I think we should be going there to buy, not the other way around,” he argued.

Dr Oppong emphasised the chamber’s reliance on evidence in its findings.

“I am a scientist. I believe in data. Data is the only thing that is close to the truth,” he stressed.

Meanwhile, Board Chairman of COMAC, Gabriel Kumi, has urged the National Petroleum Authority (NPA) to conduct a thorough investigation into the activities of the flagged companies.

He argued that the volumes being reported cannot be justified by transport or supply records.

“Every truck that loads petroleum products in Ghana is tracked, and if we are to go into the truck cycle, I don’t think we can see that volume going to Upper West and Upper East,” Mr Kumi pointed out.

He further called on the Ministry of Energy and the Ministry of Finance to take a keen interest in the findings.

“If we are not able to deal with a problem that affects 95 per cent of our members, we cannot sit here and pretend,” he said, adding that COMAC has confidence in regulators to address the issue