The National Petroleum Authority (NPA) on Monday, August 25, hosted industry players in Ghana’s petroleum downstream on the draft NPA bill as part of efforts to finalize the bill. The forum, which was held under the auspices of the Ministry of Energy and Green Transition, was chaired by the Sector Minister, Hon. John Abdulai Jinapor, and had in attendance, the Deputy Minister, Hon Richard Gyan-Mensah and officials from the Ministry.
In his welcome address, the Acting Chief Executive of the Authority, Godwin Kudzo Tamaklo, Esq. noted that the current NPA Act (Act 691), which was enacted in 2005 does not adequately address the needs and evolving challenges of the fast growing petroleum downstream, thus, making it imperative for a new comprehensive legal regime that is adequately responsive to the exigencies of the time.
Whilst expressing confidence that the country has the finest minds in the petroleum downstream to help shape the future of the industry, Mr. Tamakloe, assured that there will be continuous stakeholder engagements to capture the relevant inputs of stakeholders and industry experts in the draft bill.
“The current Act which was enacted in 2005 is years old and 20years in the life of a fast growing industry like the petroleum downstream is enough time for deeper reflection on the journey thus far. Fortunately, Ghana has the finest minds you can think of in the petroleum downstream; industry experts, associations, practitioners among others to help us shape, maybe another 20years of the life of the NPA”, he remarked.
On his part, the Minister of Energy and Green Transition, Hon John Jinapor, thanked the stakeholders for their invaluable contributions to the ongoing review of the draft bill. He stressed that “this stakeholders’ forum demonstrates government’s commitment to transparency, reforms and inclusiveness even as we move towards a more robust and efficient petroleum downstream sector.”
The Minister also noted that the review of the Act has come at a crucial moment where there are heightened global calls for energy sustainability and security. The country, according to him, must therefore enhance the regulatory framework of the petroleum downstream industry and position it to thrive in a competitive and sustainable environment.
He also remarked that the NPA Act and for that matter the draft bill which will soon be laid before Cabinet before making its way to Parliament, is not only meant to regulate the sector in terms of the legal imperatives but to also deal with policy issues and the formation of strategic policies for the forward match of the petroleum downstream.
During the discussion forum, industry players and stakeholders took turn to comment on the draft bill, making laudable contributions for consideration as part of the review process to improve the draft bill and for that matter the future of Ghana’s petroleum downstream.
