Government says it is undertaking comprehensive regulatory reviews in the downstream petroleum sector, including moves to introduce a new National Petroleum Authority (NPA) Act to align the industry with current market realities.

Energy and Green Transition Minister John Jinapor explains that the reforms are essential as global energy systems shift toward renewables, noting that an updated legal framework is needed to bolster consumer protection amongst others.

John Jinapor, made these remarks at the 20th anniversary celebration of the National Petroleum Authority (NPA). He noted the expanding market for electric vehicles in the country, along with the increasing number of charging points.

“As we celebrate our past, we must prepare for the future. The global energy landscape is rapidly shifting towards renewables, which is why the government is undertaking comprehensive reviews and reforms within the downstream petroleum sector, including the reenactment of a new NPA Act.

“This new legislative framework will empower the NPA to drive integration of cleaner and alternate fuels, enhance market transparency and ensure consumer protection whiles aligning taxes, levies and pricing structures within the system.

“My objective as minister is simple: to position the NPA as a regulator for the future, responsive, innovative and digitally enabled and environmentally aligned with our national development goals,” he said.

Chief Executive Officer of the NPA, Godwin Edudzi Tamakloe, in his remarks, thanked former President John Agyekum Kufuor for conceiving the idea to establish the Authority.

He also commended past and current board members, management and staff for their contributions to the NPA’s growth.

Godwin Edudzi Tamakloe said the Authority will continue to safeguard the country’s petroleum security while maintaining strict oversight of the downstream sector.

“The Authority’s vision is to become a catalyst for transformation whereas it mission is to regulate, oversee and monitor the petroleum downstream in Ghana for efficiency, growth and stakeholder satisfaction,” he added