Energy Minister to Form Stakeholder Committee for Downstream Petroleum Sector Reforms
The Minister for Energy and Green Transition, John Jinapor, has announced plans to establish a stakeholder committee to undertake comprehensive reforms in Ghana’s downstream petroleum sector.
The initiative aims to ensure adequate fuel supply to meet the growing demand while enhancing the industry’s overall performance.
Speaking at the inaugural downstream dialogue organized by the Chamber of Oil Marketing Companies, Mr. Jinapor emphasized the need for innovative solutions to strengthen the sector.
He noted that the committee would review key policies and propose strategies to address challenges related to pricing regulation.
“It is therefore imperative that we look at innovative reforms that will enhance the overall sector performance and lead to sustained fuel supply at affordable and more stable prices to the people of Ghana, while contributing immensely to economic resilience and growth,” he stated.
The Energy Minister explained that forming the committee would enable extensive engagements and collaborations among stakeholders.
“The government, through the Ministry of Energy, is committed to extensive consultation and collaboration with its sector agencies and petroleum service providers to improve service delivery in the petroleum downstream sector,” he added.
The consultations will explore several key interventions, including the enactment of a downstream law, a review of margins, taxes, and levies in the Price Build-Up (PBU) of petroleum products, and the diversification of supply sources.
The discussions will also focus on implementing a cost-reflective tariff framework, developing a low-carbon fuel market scheme, and modernizing the state-owned refinery through strategic partnerships.
At the same event, Acting Chief Executive of the National Petroleum Authority, Godwin Eduzdi Tamakloe, revealed plans to introduce automation machines at selected fuel outlets.
This initiative is part of the government’s 24-hour economy policy aimed at improving efficiency and service delivery in the downstream petroleum sector.
The downstream dialogue was themed “Ghana’s Downstream Oil and Gas Sector: Challenges and Opportunities.”
It provided a platform for industry players to discuss challenges and explore potential solutions to enhance sector growth and sustainability.
