The Minister for Energy and Green Transition, John Jinapor, has disclosed plans to constitute a stakeholder committee to undertake a comprehensive reform of the downstream petroleum sector.
The move aims to ensure a stable and sufficient fuel supply to meet the growing demand for petroleum products.
Speaking at the first Downstream Dialogue organized by the Chamber of Oil Marketing Companies, Mr. Jinapor emphasized the need for innovative strategies to strengthen the sector.
He assured that the committee would review key policies and prescribe roadmaps to address challenges related to pricing and regulation.
“It is therefore imperative that we look at innovative reforms that will enhance 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.
Mr. Jinapor further explained that forming such committees would facilitate extensive engagements and collaboration 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 said.
The consultations, he noted, will explore key interventions, including the promulgation of a downstream law, a review of margins, taxes, and levies in the Price Build-Up (PBU) of petroleum products, and the diversification of petroleum supply sources.
He added that 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.
Speaking at the same event, Acting Chief Executive of the National Petroleum Authority (NPA), Godwin Eduzdi Tamakloe, revealed plans to introduce automated fuel dispensing machines at selected fuel outlets as part of the government’s 24-hour economy policy.
The dialogue, themed “Ghana’s Downstream Oil and Gas Sector: Challenges and Opportunities,” aimed to highlight challenges faced by industry players and explore solutions.