Work has begun on a process to repeal the National Petroleum Authority (NPA) Act to position the authority to deal with the challenges of the sector and to be responsive to stakeholders in the oil and gas industry, a senior government official has stated.
Consultations with industry players are currently underway to help ensure that the exercise, when completed, would, among other things, better empower the authority to tackle malpractices within the downstream petroleum sector.
Issues such as smuggling and premix fuel diversion continued to bedevil the sector and it is expected that the repealed Act would help to better position the authority to address those challenges while providing a more viable business environment for industry players.
A Deputy Minister of Energy, Herbert Krapah, who disclosed this, said the Act would also help address issues of safety and energy transition in the country.
Together, we will continue to formulate policies that support the industry’s operations, enabling it to provide essential energy services to the country at large,” he said at the launch of the 25th anniversary celebrations of Engen Ghana Limited on the theme “Celebrating 25 years of Dynamism, Resilience and Sustainable Growth.”
He commended the company for its tremendous growth over the years, adding that Ghana’s petroleum story is not complete without Engen Ghana Limited.
Since 1998, the company has grown from few outlets to become one of the leading Oil Marketing Companies (OMC) today.
The company has also grown its market share of the downstream OMC market, and stayed true to its mission — Delivering quality fuels, lubricants and logistics services with efficiency and operational excellence within a culture of innovation, safety and environmental consciousness.
Sustainable energy
Krapah noted that demand for fossil fuel was expected to dwindle as the world moves towards low carbon and more sustainable sources of energy.
However, he gave an assurance that the government would continue to support innovation and sustainability for a fair and equitable transition.
For instance, our National Energy Transition Framework provides a pathway for the establishment of electric vehicle charging points; for the introduction of biofuels as part of our national petroleum consumption; the promotion of Compressed Natural Gas in transportation and other commercial activities; and promotion of LPG as a cleaner cooking fuel alternative to wood fuels.
Government, through the ministry, will continue to work closely with industry players and stakeholders to ensure that regulatory rules are fair, transparent, effective and do not burden the industry,” he said. Resilience
The Managing Director of Engen Ghana Limited, Brent Nartey, said that in spite of the continuous challenges faced by the industry, his outfit had remained resilient over the years.
Spurred on by its dynamic spirit in a rapidly changing world, he said the company continues to be innovative and adaptable in its approach to business, by responding quickly to changing market conditions, emerging technologies, and evolving customer needs.
Rebranding
He said after four years of the acquisition of the Engen Ghana business by Mocoh Ghana, his outfit believed that it was time to reflect the change in its corporate identity.
Therefore, while the Engen brand will remain, the corporate name will change after all the legal and regulatory requirements have been completed.
The values of dynamism, resilience and sustainable growth have been integral to our success as a company, since the last twenty-five years.
We are proud of what we have achieved, and we are confident that these values will continue to guide us into the future, allowing us to remain at the forefront of the industry,” Nartey added.
For his part, the Chief Executive Officer (CEO) of Mocoh Group, Guy Hacking, said in the four years that Engen Ghana Limited has been part of the Mocoh Group, the business has more than doubled the number of stations and tripled the volumes.