Energy Ministry, NPA engage stakeholders on draft petroleum bill

The Ministry of Energy and Green Transition and the National Petroleum Authority (NPA) have held a stakeholder engagement to review comments on the draft National Petroleum Authority Bill, 2024.

The proposed legislation seeks to replace the existing NPA Act, 2005 (Act 691), and aims to strengthen regulatory powers, including expanded licensing for bunkering and transhipment.

Opening the forum in Accra on Monday, Mr. John Abdulai Jinapor, Minister for Energy and Green Transition, said the engagement reflected government’s commitment to transparency, reform, and inclusiveness in building a robust and efficient petroleum downstream sector.

He said the review was not only about enhancing regulation but also about aligning the NPA’s operations with Ghana’s energy transition agenda.

“The revised Act must take into consideration the integration of cleaner and alternative fuels, and mechanisms that encourage private investment in low-carbon solutions.

“Let us note that this is how we will secure a future that balances economic growth with environmental responsibility,” he stated.

Mr. Jinapor noted that Act 691 had laid the foundation for key sectoral gains, including price deregulation, improved LPG distribution, and the promotion of fair competition.

However, he said the rapid growth of the industry had outpaced the regulatory tools provided under the current law.

“We will all agree that the petroleum downstream industry is dynamic and keeps metamorphosing, but this growth has not been matched by the regulatory tools that Act 691 accords the Authority.

“It is clear that the National Petroleum Authority Act is 20 years, and as always, the industry is faster than the regulator. Industry men are always coming up with new skills, and you can imagine the growth that has happened in the space of twenty years,” he said.

The Minister said the review comes at a time of heightened global calls for energy sustainability and security.

He urged stakeholders to reflect on past developments, current challenges, and the vision for effective regulation.

He called for a review of the Act with emphasis on power, resource control, authority, and policy, devoid of personal interest.

Mr. Jinapor stressed the need to enhance the regulatory framework to ensure the petroleum downstream industry thrives in a competitive and sustainable environment.

Source: GNA

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