Tuesday, 26 August

NPA engages stakeholders on draft petroleum downstream bill

Business
Godwin Edudzi Tameklo

The National Petroleum Authority (NPA) on Monday convened key industry stakeholders to deliberate on a draft bill aimed at strengthening the regulation of Ghana’s petroleum downstream sector.

The forum, held under the auspices of the Ministry of Energy and Green Transition, was chaired by the sector minister, Mr John Abdulai Jinapor.

In his opening remarks, Acting Chief Executive of the NPA, Mr Godwin Kudzo Tamaklo, explained that the current legal framework — the NPA Act (Act 691), passed in 2005 — no longer adequately meets the needs of a rapidly evolving petroleum industry.

“After two decades, Act 691 does not fully address the challenges of today’s dynamic downstream sector.

This makes it necessary to put in place a comprehensive legal regime that is responsive to current and future realities,” he said.

Energy Minister John Jinapor underscored the government’s commitment to reform and inclusiveness in shaping the new legislation.

“This stakeholders’ forum demonstrates government’s commitment to transparency, reforms, and inclusiveness even as we move towards a more robust and efficient petroleum downstream sector,” he stated.

According to the Minister, the draft bill will soon be presented to the Cabinet for consideration before it is laid before Parliament. Beyond updating regulatory provisions, he noted, the new framework will also tackle broader policy issues affecting the petroleum downstream industry.

 

The forum forms part of ongoing consultations to ensure that the final bill reflects the perspectives of industry players, policymakers, and regulators as Ghana works to modernise its energy sector.

Source: classfmonline.com/Cecil Mensah