The Minister for Energy and Green Transition, John Jinapor, has announced plans to set up a dedicated stakeholder committee to spearhead comprehensive reforms in Ghana’s downstream petroleum sector.
This initiative is part of the government’s commitment to ensuring a stable, reliable, and affordable supply of fuel to meet the rising demand for petroleum products in the country.
Addressing industry players at the inaugural Downstream Dialogue, organized by the Chamber of Oil Marketing Companies, Mr. Jinapor highlighted the pressing need for innovative approaches to strengthen and modernize the sector.
He stated, “It is imperative that we explore transformative reforms that will enhance the sector’s performance, guarantee sustainable fuel supply, and stabilize prices for the benefit of all Ghanaians, while driving economic resilience and growth.”
Key Focus Areas for Reform
The Minister outlined the government’s plan to engage a wide range of stakeholders in reviewing current policies and developing actionable roadmaps to address critical challenges, including pricing, regulation, and service delivery.
“The Ministry of Energy is committed to fostering extensive consultation and collaboration with sector agencies and petroleum service providers to improve the operational efficiency of the downstream petroleum sector,” he emphasized.
The consultations will explore key interventions such as:
Enacting a dedicated downstream petroleum law.
Reviewing the Price Build-Up (PBU) structure, including margins, taxes, and levies.
Diversifying the country’s petroleum supply sources.
Implementing a cost-reflective tariff framework.
Developing a low-carbon fuel market scheme to align with global energy transition goals.
Revamping the state-owned refinery through strategic partnerships and modernization initiatives.
Automation and Technological Advancements
At the same event, Acting Chief Executive of the National Petroleum Authority (NPA), Godwin Eduzdi Tamakloe, announced plans to introduce automated fuel dispensing systems at selected fuel stations. This move, he explained, aligns with the government’s vision of a 24-hour economy aimed at enhancing transparency and efficiency in fuel delivery.
Industry Collaboration
The Downstream Dialogue, themed “Ghana’s Downstream Oil and Gas Sector: Challenges and Opportunities”, provided a platform for stakeholders to identify pressing challenges and explore sustainable solutions for the industry.
The event underscored the government’s resolve to work closely with industry players to develop policies and strategies that will transform the downstream petroleum sector into a resilient and globally competitive industry.
As reforms take shape, the Ministry’s initiatives are expected to not only stabilize the supply and pricing of petroleum products but also position Ghana as a key player in the evolving global energy landscape.
Story by: Mercy Addai Turkson #ahotoronline.com
