Petroleum Bill Passed

Parliament on Wednesday June 1, passed the Petroleum Commission Bill, which is to establish a petroleum commission to oversee the regulation and management of petroleum products and provide for related matters.

In accordance with article 269 of the 1992 Constitution, the commission is being established to regulate and manage the utilization of petroleum resources and co-ordination of the policies in relation to resources.

Mr Emmanuel Kofi-Armah Buah, Deputy Minister of Energy moved for the bill to be read the third time and seconded by Hon. Moses Asaga, Member of Parliament for Nabdam after which it was passed by the unanimous decision of members.

The bill which has 23 clauses has clause 1 establishing the petroleum Commission as a body corporate with perpetual succession whilst clause 2 deals with the object and functions of the Commission.

The Commission is to promote planned, well executed, sustained and cost efficient petroleum activities to achieve optimal levels of resources exploitation for the overall benefit and welfare of citizens.