The Minister for Energy and Green Transitions, John Jinapor, has announced the establishment of a consultative committee to conduct a thorough review of Ghana’s petroleum sector.
This initiative aims to address key concerns within the industry and ensure that policy decisions consider all stakeholders.
During a meeting with the Chamber of Bulk Oil Distributors, the minister highlighted foreign exchange (forex) challenges as a major issue affecting industry operations. He emphasized the need to enhance product security, quality, and safety while aligning the downstream petroleum sector with modern trends.
As part of broader reforms, he noted that the Energy Ministry, in collaboration with the Ministry of Finance, is also reviewing the Gold for Oil policy. According to him, the Finance Minister is working on restructuring the gold aspect of the program and plans to establish a Gold Board. Meanwhile, the Energy Ministry is assessing the policy’s viability, ensuring a transition without abrupt disruptions.
Additionally, he said the President is setting up another committee to enhance transparency and efficiency within the petroleum sector. This initiative will address forex-related concerns, refine the Gold for Oil program, and take a comprehensive approach to improving the sector’s regulatory framework.
