The Minister for Energy and Green Transition has called for a comprehensive review of the National Petroleum Authority (NPA) Act 691 of 2005, emphasizing the urgent need to strengthen regulations and align the petroleum downstream sector with Ghana’s ambitious energy transition agenda.
Speaking at a high-level stakeholders’ engagement on the NPA Bill, 2024, the Minister described the review as critical for positioning the industry to thrive in an increasingly competitive and sustainable environment. The meeting brought together a cross-section of industry stakeholders, chief executives of state agencies, association leaders, and key players from across the petroleum downstream sector.
Outlining the main objectives of the review, the Minister highlighted three core priorities:
First, strengthening regulation to ensure the sector’s regulatory framework is both effective and fair; second, aligning the downstream industry with Ghana’s energy transition goals by integrating cleaner and alternative fuels and encouraging private investment in low-carbon energy solutions; and third, fostering a more enabling environment for private sector participation in sustainable energy development.
The Minister stressed that the review process must be collaborative and inclusive, urging all stakeholders to actively contribute their input and expertise. “The review is not the sole responsibility of the government. The input and expertise of stakeholders are crucial to developing a legal framework that is effective, fair, and responsive,” the Minister said.
Expressing optimism, the Minister concluded that the collective dedication and knowledge of all parties involved would ensure a successful review. The goal, he added, is to create a downstream petroleum sector that not only addresses Ghana’s current energy needs but also lays the groundwork for a greener, more sustainable future.
Source: Apexnewsgh.com
