Ghana’s petroleum sector sees growth with increased storage capacity and better pricing – NPA Boss

Chief Executive Officer (CEO) the National Petroleum Authority (NPA); Hassan Tampuli

According to the Chief Executive Officer (CEO) of the National Petroleum Authority (NPA); Ghana’s petroleum sector has seen some growth.

Hassan Tampuli observed that apart from Togo and Nigeria which have a better pricing regime, Ghana’s petroleum products are cheaper compared to other African states.

He mentioned also that the country’s storage capacity has seen an improvement while the deregulation policy has led to increased competition and better services as well as helped the NPA make money to settle its debts.

The NPA chief some months ago submitted government couldn’t scrap or review taxes on petroleum products downward because taxes had been incorporated into government’s revenue projections for the year adding attempts to scrap any of them could spell doom for the current revenue structure.

The syndicate of illegal fuel trade in the country remains a challenge although Ghana’s petroleum downstream is projected to become a hub in the West African sub-region.

Ghana’s petroleum sector can be grouped into two- upstream and downstream sectors. The upstream sector deals primarily with exploration, development and production of crude oil and natural gas while downstream sector covers refining, storage, internal transportation, marketing and sale of petroleum products.

Michael Eli Dokosi/goldstreetbusiness.com