The newly appointed Chief Executive Officer of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has indicated that his primary objective is to ensure that rules and regulations governing the industry are adhered to by players in the petroleum downstream industry.
According to him, that is the only way the sector will achieve its vision while players enjoy the full benefits of the industry.
The West African nation’s petroleum downstream sector is riddled with nefarious practices such as smuggling, fuel dilution, diversion of fuel meant for export and tax evasion by some industry players.
Although the regulator has taken steps to address some of the bad practices in the downstream sector, a lot more needs to be done.
Addressing management of Puma Energy Ghana Ltd and Blue Ocean Investment Limited led by its Group Managing Director, Henry Osei, the new CEO of NPA, Dr Abdul-Hamid said his aim is to ensure all players are satisfied with the regulations governing the industry.
The visit was to, among others, welcome the new Chief Executive of NPA and also congratulate him on his assumption into office.
The meeting deliberated on the Puma Group’s investment in the petroleum downstream industry such as being the first company to establish a cylinder bottling plant which is at 95 percent completion stage and the enhanced Kotoka International Airport aviation fuel depot which added a storage capacity of 10,000 metric tonnes to the existing 750 metric tonnes.
The MD for Puma Energy and Blue Ocean Investment Limited said the group was looking forward to strengthening its relationship with the NPA and indicated that “as a key stakeholder of the industry, we will lend our support to you as you take over as the new chief executive.”