Govt to protect Ghanaian content and participation in petroleum sector

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The Minister of Energy Dr Mathew Opoku Prempeh has said a number of measures have been put in place to ensure the protection of Ghanaian content and participation in the petroleum sector of the Ghanaian economy.

As part of the measures, he said Petroleum (Local Content and Local Participation) (Amendment) Regulations, 2021. (L.I. 2435) has been passed to include channel partnerships and strategic alliances in the petroleum upstream sector.

He also said the draft Regulation for Ghanaian Content and Ghanaian Participation for the downstream sector is currently under review.

“Legislative Instrument (LI 2354) on Local Content and Local Participation in the Electricity Supply Industry passed in 2017,” the Manhyia South Member of Parliament said at a press conference in Accra on Wednesday April 13.

Regarding availability of petroleum products amidst global crisis, he said the Bulk Oil Storage and Transportation (BOST) is expected to hold up to 6 weeks strategic stocks.

Similarly, he said, the National Petroleum Authority (NPA) to enhance monitoring to reduce fuel smuggling and dumping.

By Laud Nartey|3news.com|Ghana

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