Stakeholder Committee to champion reform of downstream petroleum sector-Minister

The Minister for Energy and Green Transition, John Jinapor, has announced plans to establish a stakeholder committee to drive comprehensive reforms in the downstream petroleum sector.

This initiative aims to ensure a stable and sufficient fuel supply to meet the increasing national demand. Speaking at the inaugural downstream dialogue organized by the Chamber of Oil Marketing Companies, Mr. Jinapor emphasized the need for innovative strategies to enhance industry efficiency.

He assured stakeholders that the committee would assess key policies and develop a roadmap to address challenges related to pricing regulations.

According to Mr. Jinapor, forming committees will create avenues for broader stakeholder engagement and collaboration.

"The government, through the Ministry of Energy, is dedicated to engaging extensively with sector agencies and petroleum service providers to enhance service delivery within the downstream petroleum sector," he affirmed.

The consultations will focus on several key interventions, including the introduction of a downstream law, a review of margins, taxes, and levies in petroleum product pricing, and diversifying fuel supply sources. Additionally, discussions will cover the implementation of a cost-reflective tariff framework, the development of a low-carbon fuel market, and the modernization of the state-owned refinery through strategic partnerships.

Meanwhile, at the same event, the Acting Chief Executive of the National Petroleum Authority, Godwin Eduzdi Tamakloe, revealed plans to introduce automated fuel dispensing machines at selected fuel stations. This move aligns with the government's 24-hour economy initiative, aiming to enhance operational efficiency.

The dialogue, themed "Ghana's Downstream Oil and Gas Sector: Challenges and Opportunities," provided a platform for industry players to discuss pressing challenges and explore viable solutions for the sector's growth.