Ghana’s petroleum downstream regulator, the National Petroleum Authority (NPA), has approved the export of petroleum products by private entities to Gambia and Senegal. The expansion adds to the list of West African countries receiving petroleum products from Ghana, which already includes Mali, Niger, Burkina Faso, Côte d’Ivoire, and Togo.
In 2023, Ghana exported and transited 385,154,100 litres of petroleum products to these neighbouring countries. During the Ghana International Petroleum Conference (GhiPCon), themed “The Petroleum Industry: Building a Future for Growth, Efficiency, and Sustainability,” NPA Boss Dr. Abdul-Hamid highlighted this increase in export volume as evidence of NPA’s success in combating illicit fuel activities.
The industry currently boasts over 3,000 registered service providers, predominantly local, delivering over four million metric tonnes of petroleum products annually within Ghana and to other countries. This has significantly contributed to Ghana’s GDP, with the sector valued at over GH¢71 billion in 2023, representing about 84% of the nation’s GDP. Over the past seven years, the industry has averaged an annual value of over GH¢35 billion.
Dr. Abdul-Hamid emphasized NPA’s commitment to leveraging technology and innovation to maintain relevance in the sub-region by implementing strategies that ensure industry efficiency and profitability while providing consumers with value for money. He noted the reform of pricing through a transparent automatic price adjustment formula, shifting from annual regulated prices with unpaid subsidies to bi-weekly and daily adjustments.
The NPA has declared zero tolerance for toxic fuel, leading Ghana, Kenya, Tanzania, Uganda, and Morocco to adopt low-sulfur fuels, typically imported at less than 50 ppm, with local refineries expected to comply. Dr. Abdul-Hamid also detailed technology-based schemes such as the petroleum marking scheme, bulk road vehicle tracking project, electronic cargo tracking system, and enterprise relational database management software to ensure the quality and quantity integrity of delivered petroleum products.
Minister of Energy, representing Vice-President Dr. Mahamudu Bawumia, praised NPA’s strategic management of the “Gold for Oil” programme and the Cylinder Recirculation Model (CRM), which has boosted investor confidence in the sector. He highlighted efforts to incentivize private sector investment to achieve Ghana’s goal of 50% LPG penetration by 2030.
The Minister urged continued investment in infrastructure, technology, and supply chain resilience to secure Ghana’s energy future amidst geopolitical tensions, technological advancements, and environmental concerns. He reaffirmed the government’s commitment to enhancing Ghanaian content, supporting capacity building, and creating opportunities for the Ghanaian people to ensure broad sharing of resource benefits and development of the local workforce and businesses.
Source: Energy News Africa
