|
Getting your Trinity Audio player ready...
|
The National Petroleum Authority (NPA) has secured agreements with Senegal and Gambia to export petroleum products from Ghana, expanding the list of countries that import Ghanaian petroleum products. This list now includes Mali, Niger, Burkina Faso, Côte d’Ivoire, and Togo.
In 2023, Ghana re-exported and transited a total of 385,154,100 liters of petroleum products to these neighboring countries. This achievement reflects the NPA’s success in combating illicit fuel activities within the country.
Dr. Mustapha Abdul-Hamid, during the Ghana International Petroleum Conference (GhiPCon), emphasized the sector’s significant impact on Ghana’s GDP. He stated that the petroleum sector had a monetary value exceeding GHS 71 billion, representing about 8.4% of the country’s 2023 GDP. Over the past seven years, the industry has consistently contributed an average annual value of over GHS 35 billion.
The NPA is committed to leveraging technology and innovation to enhance the efficiency and profitability of the petroleum industry. This includes transitioning from an annual regulated pricing model to a more dynamic bi-weekly and daily pricing system. The authority has introduced several technology-driven initiatives such as:
- Petroleum Marking Scheme
- Bulk Road Vehicle Tracking Project
- Electronic Cargo Tracking System
- Enterprise Relational Database Management Software
These measures are designed to ensure the quality and accuracy of petroleum products delivered to consumers.
Dr. Abdul-Hamid also highlighted the NPA’s zero-tolerance stance on toxic fuels. Ghana, alongside Kenya, Tanzania, Uganda, and Morocco, now uses low-sulphur fuels with typical imports below 50 ppm. Local refineries are working to meet compliance standards.
Also read: CETAG vows to resist illegal salary freeze amid ongoing strike
In a speech delivered on behalf of Vice President Dr. Mahamudu Bawumia, the Minister of Energy praised the NPA for its effective management of the “Gold for Oil” program and the Cylinder Recirculation Model (CRM). These initiatives have increased investor confidence and contributed to Ghana’s goal of achieving 50% LPG penetration by 2030.
The Minister urged the NPA to continue investing in infrastructure, adopting cutting-edge technology, and strengthening the supply chain to secure Ghana’s energy future. He emphasized the need for robust, innovative, and adaptable strategies in the face of geopolitical tensions, technological advancements, and environmental concerns. The government remains dedicated to advancing policies that boost local content, support capacity building, and create opportunities for Ghanaian businesses and the workforce.
