{"id":37317,"date":"2023-03-16T20:00:31","date_gmt":"2023-03-16T20:00:31","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability"},"modified":"2023-03-16T20:52:58","modified_gmt":"2023-03-16T20:52:58","slug":"npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability","title":{"rendered":"NPA outlines Ghana\u2019s downstream regulatory measures implemented for stability"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Dr Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority (NPA) has highlighted regulatory measures it implemented to ensure stability across Ghana\u2019s downstream sector, following the global oil and gas market volatility attributed to Russian-Ukraine war and energy transition-related policies.<\/b><\/p>\n

In a presentation at Africa Refiners and Distributors Association (ARDA) Week 2023, which is currently taking place in Cape Town, South Africa, Dr Abdul-Hamid called for increased cooperation between African countries and players within the downstream sector, and between private and public sector institutions to ensure security of energy supply and affordability.<\/p>\n

\u201cFor the first time in 30 years, we have installed fuel caps as a measure to intervene and to control market instability.<\/p>\n

\u201cThis has helped restrict uncontrolled increases in fuel and energy prices at the height of the global market instability since the conflict between Russia and Ukraine started.<\/p>\n

\u201cThe regulator also spoke about the Gold for Oil Program, whereby the country is leveraging its vast gold resources to buy petroleum from international markets.<\/p>\n

\u201cWe exchange gold directly for petroleum products from international firms. We buy the gold directly from large and small mining firms and exchange it with petroleum. This has stabilised our industry and kept energy prices affordable,\u201d he said.<\/p>\n

He said the Ghanaian government, through the NPA, also removed energy subsidies, with Dr. Abdul-Hamid stating that \u201cWe have removed subsidies and deregulated our markets. Industries were shutting down because government was finding it hard to find the money to provide subsidies and to this day industry is being powered by investments in the private sector and there are no complaints of supply. We are ensuring affordability and security for the vulnerable consumers through the removal of energy subsidies.\u201d<\/p>\n

He said with the lack of adequate refinery capacity being one of Ghana\u2019s key challenges restricting the exploitation of local oil and gas resources to drive energy sector growth, the NPA had also created a special fund to help refineries to boost their capacity to reach 50 bbl and be able to meet the country\u2019s growing demand.<\/p>\n

\u201cGhana has also ensured the NPA is a one-stop-shop for everything required for firms to participate in the country\u2019s oil and gas industry. By so doing, we have the time spent in registering and getting projects and firms up to the ground,\u201d he said.<\/p>\n

\u201cThere are roles of the Gas Master Plan, the Renewable Energy Plan and Trade Policy on maximizing the country\u2019s energy mix diversification and the exploitation of liquefied petroleum gas, as well as natural gas to boost electricity generation and consumer access to clean cooking while ensuring environmental sustainability\u201d<\/p>\n

\u201cThere must be a healthy balance of energy equity, accessibility and environmental sustainability in driving energy market growth. We want to transform through natural gas, which is the cleanest form of energy to date, while accelerating local content development. We also want to use carbon credits to innovate our financing mechanisms,\u201d he noted.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Dr Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority (NPA) has highlighted regulatory measures it implemented to ensure stability across Ghana\u2019s downstream sector, following the global oil and gas market volatility attributed to Russian-Ukraine war and energy transition-related policies. In a presentation at Africa Refiners and Distributors Association (ARDA) Week 2023, […]<\/p>\n","protected":false},"author":84,"featured_media":37316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[5092,5096,429],"class_list":["post-37317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nNPA outlines Ghana\u2019s downstream regulatory measures implemented for stability - Ghana<\/title>\n<meta name=\"description\" content=\"Dr Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority (NPA) has highlighted regulatory measure ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NPA outlines Ghana\u2019s downstream regulatory measures implemented for stability\" \/>\n<meta property=\"og:description\" content=\"Dr Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority (NPA) has highlighted regulatory measure ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-16T20:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-16T20:52:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/03\/postQueueImg_1678978308.90.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NPA outlines Ghana\u2019s downstream regulatory measures implemented for stability\",\"datePublished\":\"2023-03-16T20:00:31+00:00\",\"dateModified\":\"2023-03-16T20:52:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability\"},\"wordCount\":509,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/03\/postQueueImg_1678978308.90.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/npa-outlines-ghanas-downstream-regulatory-measures-implemented-for-stability\",\"name\":\"NPA outlines Ghana\u2019s downstream regulatory measures implemented for stability - 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