The Energy Ministry has pledged its continuous support to the downstream petroleum sector of the country.
The Minister for Energy, Dr Matthew Opoku Prempeh gave the assurance in a meeting with the leaders of the Tanker Drivers Union and the Tanker Owners Union in Accra today.
“The Energy Ministry will continue to provide the necessary space and support to the petroleum downstream industry. To ensure that it continues to play its strategic role in the development of the nation.”Dr. Opoku Prempeh
In a social media post, Dr. Opoku Prempeh said, the meetings were held with the executives of the Tanker Drivers Union and the Tanker Owners Union for some deliberations.
“The two Unions called on me to formally welcome me to the energy sector. And to discuss a few issues that are relevant to their operations.”Dr. Opoku Prempeh
Additionally, he emphasized the importance of tanker operations to the petroleum downstream industry. He then urged the unions to continue working together to find common ground to ensure stable supply of petroleum products.
“I was happy to receive assurances from the two Unions that they will do their best to keep the industry moving.”Dr. Opoku Prempeh
High Cost Of Petroleum Product To See Changes
Also, in a meeting with the National Petroleum Authority, Dr. Opoku Prempeh said he is confident the high cost of petroleum products in the country will soon change.
The Energy Minister believes this may become a reality if key players such as the National Petroleum Authority (NPA) are thorough, fair and principled in their work.
Addressing a delegation from the NPA in Accra, Dr Opoku Prempeh, charged the Authority to put Ghana first during their negotiations and decision-making.
Moreover, he said the NPA plays an important role in ensuring that the industry remains efficient and profitable. He said another role is ensuring also that ordinary Ghanaians and businesses receive value for money. He admonished them that in this new era, he expects them to be conscious of the impact of their decisions.
“I am sure that when authorities such as the NPA are thorough, fair and principled, the high cost of petroleum products will be a rare phenomenon.”Dr. Opoku Prempeh
He noted his meeting with the delegation from the National Petroleum Authority (NPA) was to discuss their critical role as regulators in the petroleum downstream industry and issues concerning pricing of petroleum products.
2021 Budget And Petroleum Pricing
The pricing of petroleum products has become an issue of concern to the general public especially petroleum consumers. Despite the price surge, petroleum prices will go up by 5.7% according to the 2021 financial budget.
The Budget says the increment has become necessary because of the introduction of two new levies by the government. The Budget explains that on the basis of existing world crude oil prices, the implementation of the two proposed levies for sanitation and pollution is to pay for excess capacity charges.
According to the Budget, the COVID-19 pandemic has brought unprecedented challenges to the country. And as such, there is a need to provide resources to address these challenges and fund major projects government is executing.