Stakeholders in Ghana’s petroleum downstream sector convened on Monday to review the draft National Petroleum Authority (NPA) Bill, 2024, with the goal of finalizing it for submission to Cabinet before it proceeds to Parliament for deliberation and approval.
The stakeholder meeting, held at the National Petroleum Authority’s conference room, was facilitated by the Ministry of Energy and Green Transition.
Participants included representatives from the Energy Commission (technical regulator for electricity and natural gas), the Chamber of Oil Marketing Companies (COMAC), the Chamber of Bulk Oil Distributors (CBOD), the Civil Society Platform on Oil and Gas, the Africa Centre for Energy Policy (ACEP), the Chamber of Petroleum Consumers Ghana (COPEC), the Institute for Energy Policies and Research (INSTEPR), the Centre for Environmental Management and Sustainable Energy (CEMSE), the Tanker Owners Association, among others.
Delivering the welcome address, Acting Chief Executive Officer of the NPA, Lawyer Godwin Kudzo Tameklo, noted that the current NPA Act (Act 691), which was enacted in 2005, no longer adequately addresses the evolving needs and challenges of the rapidly growing downstream petroleum sector.
This, he said, makes the creation of a new comprehensive legal framework imperative.
He called on participants to contribute objectively and constructively to the reshaping of the bill, which aims to enhance local content participation in the downstream petroleum sector.
“We have some of the finest minds in the petroleum downstream industry gathered here — experts, practitioners, and regulators — to help shape the sector’s regulations for the next 20 years,” he stated.
Mr. Tameklo urged attendees to set aside personal or sectional interests and work together to craft legislation that will improve regulation across the sector.
“This is the main reason we are here today — to address today’s issues while shaping the future of the NPA’s regulatory framework,” he added.
Minister for Energy and Green Transition, Hon. John Abdulai Jinapor, emphasized that the stakeholder forum reflects the government’s commitment to transparency, reform, and inclusiveness, as the nation moves toward a more robust and efficient petroleum downstream sector.
According to him, the review of the NPA Act (Act 691) has come at a crucial time, in response to increasing global calls for energy sustainability and security.
He stressed the need to enhance the regulatory framework of Ghana’s downstream petroleum industry, positioning it to thrive in a competitive and sustainable environment.
Hon. Jinapor further emphasized that this exercise is not only about strengthening regulations but also about ensuring alignment with Ghana’s broader energy transition agenda.
“The revised Act must incorporate the integration of cleaner and alternative fuels, as well as mechanisms that encourage private investment in low-carbon solutions,” he concluded.
Source: https://energynewsafrica.com
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