ENERGY MINISTER RECEIVES REPORT ON REFORMS FROM PETROLEUM DOWNSTREAM COMMITTEE

The Minister for Energy, John Jinapor, has officially received a comprehensive report from the Petroleum Downstream Sector Reforms Committee. The report outlines strategic recommendations aimed at overhauling Ghana’s downstream petroleum sector to enhance efficiency, stability, and long-term sustainability.

This development marks a major step toward the government’s broader plan to reform the sector. Speaking at the Downstream Dialogue organized by the Chamber of Oil Marketing Companies, Mr. Jinapor announced the formation of a stakeholder committee. This committee will be tasked with reviewing existing policies, identifying critical challenges, and formulating actionable solutions to transform the sector.

Key issues highlighted include inefficiencies in fuel pricing regulations, unstable supply chains, and operational weaknesses that affect product availability and pricing. To address these, the minister revealed plans to introduce a dedicated downstream petroleum law, aimed at streamlining operations and improving regulatory oversight.

Further reforms proposed in the report include restructuring the Price Build-Up (PBU) framework—particularly with regard to margins, levies, and taxes—to ensure transparency and fairness in fuel pricing. The committee also recommended diversifying Ghana’s fuel supply sources and encouraging public-private partnerships to revamp the state-owned refinery.

In line with global energy transition efforts, the report suggests developing a low-carbon fuel market and implementing cost-reflective tariffs to promote investment and sustainability in the sector.

Additionally, the Acting CEO of the National Petroleum Authority (NPA), Godwin Eduzdi Tamakloe, announced upcoming innovations such as automated fuel dispensing systems at selected fuel stations. This initiative supports the government's vision of a 24-hour economy and aims to improve transparency, prevent fuel loss, and boost consumer trust.

The Energy Minister emphasized that these reforms would only succeed through close collaboration with industry stakeholders.He reaffirmed the government's committment to ensuring a resilient,transparent and globally competitive downstream petroleum sector.