{"id":655295,"date":"2019-07-12T14:03:40","date_gmt":"2019-07-12T14:03:40","guid":{"rendered":" <br><div>\n\t\t\n<p><strong>Hassan Tampuli (right), Vice-President Dr Bawumia and Dr Amin Adam<\/strong><\/p>\n\n\n\n<p>THE PETROLEUM downstream sector saw a 15% surge in the consumption of petroleum products from 3.4 million metric tonnes in 2017 to 3.9 million m"},"modified":"2019-07-12T14:03:40","modified_gmt":"2019-07-12T14:03:40","slug":"downstream-petroleum-sector-grew-15-in-2018-npa","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/07\/12\/downstream-petroleum-sector-grew-15-in-2018-npa\/","title":{"rendered":"Downstream Petroleum Sector Grew 15% In 2018 \u2013 NPA"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Hassan Tampuli (right), Vice-President Dr Bawumia and Dr Amin Adam<\/strong><\/p>\n<p>THE PETROLEUM downstream sector saw a 15% surge in the consumption of petroleum products from 3.4 million metric tonnes in 2017 to 3.9 million metric tonnes in 2018.<\/p>\n<p>This was occasioned<br \/>\nby efforts invested into fighting illicit fuel activities.<\/p>\n<p>The Chief<br \/>\nExecutive Officer (CEO) of National Petroleum Authority, Hassan Tampuli, who disclosed<br \/>\nthis at the ongoing 3<sup>rd<\/sup> edition of the Ghana International Petroleum<br \/>\nConference (GhIPCon) 2019, said the petroleum sector contributed over GH\u00a286<br \/>\nbillion to Ghana\u2019s GDP representing an average of about 8% per annum in the<br \/>\nperiod 2013 to 2018.<\/p>\n<p>These<br \/>\nsuccesses, he explained, were achieved despite the many challenges the<br \/>\npetroleum industry faces. Some of the challenges he enumerated included<br \/>\n\u201csmuggling via unapproved offshore routes; dumping of Gasoil declared for sale<br \/>\nto foreign vessels at local filling stations; under-declaration and<br \/>\nnon-declaration of products lifted at depots; diversion of subsidized social<br \/>\nproducts such as premix fuel, as well as fraudulent freight claims from some<br \/>\ntransporters and siphoning LPG from BRVS into surface tanks at illegal LPG<br \/>\ntank\u201d.<\/p>\n<p>These<br \/>\n\u201cnefarious activities\u201d he added, cost Ghana \u201cabout $200 million per annum of<br \/>\ntax revenue; compromising on product quality at filling stations due to<br \/>\nlaundering which leads to damage to vehicle engines; and distortion of the<br \/>\nnational consumption statistics (over 300,000Mt of actual annual consumption<br \/>\nwas unreported).<\/p>\n<p>He also said<br \/>\nthat the \u201cUnified Petroleum Price Fund (UPPF) also recorded about USD12million<br \/>\nlosses per annum\u201d.<\/p>\n<p>\u00a0Mr. Tampuli mentioned that the NPA had \u201crolled<br \/>\nout a series of measures to tackle the problem heads on, in collaboration with<br \/>\nthe Ghana Revenue Authority, Ghana Navy and other relevant security agencies in<br \/>\nthe country\u201d, and intensified \u201cdigital solutions such as enterprise relational<br \/>\ndatabase management software, petroleum products marking scheme and bulk road<br \/>\nvehicle tracking project\u201d.<\/p>\n<p>On his part,<br \/>\nVice-President Dr Mahamudu Bawumia attributed the growth in the downstream<br \/>\npetroleum sector to government\u2019s deregulation policy.<\/p>\n<p>\u201cThe<br \/>\ninvestment has been championed by the private sector which is mostly dominated<br \/>\nby a growing number of indigenous Ghanaian companies.<\/p>\n<p>\u201cFor<br \/>\ninstance, over the past eight years, the industry has grown from a total of<br \/>\neight (8) bulk distribution companies (BDCs) to 35. The number of oil marketing<br \/>\ncompanies (OMCs) has grown from eight one (81) to one hundred and fifteen<br \/>\n(115),\u201d he said.<\/p>\n<p>Dr. Bawumia<br \/>\nalso mentioned that as of May 2019, there were 19 companies providing support<br \/>\nservices for the sector in areas such as tank calibration, underground storage<br \/>\ntank (UST) and Above Storage Tank (AST) cleaning, Non-Destructive Testing<br \/>\n(NDT), among others.<\/p>\n<p>Deputy<br \/>\nMinister of Energy Dr. Amin Adam said government through the Energy Ministry<br \/>\nand NPA was taking steps to focus on transforming the petroleum downstream<br \/>\nsector from its present state \u201ctowards government\u2019s vision of making Ghana a<br \/>\nhub for refined petroleum products in the West Africa region.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hassan Tampuli (right), Vice-President Dr Bawumia and Dr Amin Adam THE PETROLEUM downstream sector saw a 15% surge in the consumption of petroleum products from 3.4 million metric tonnes in 2017 to 3.9 million metric tonnes in 2018. This was occasioned by efforts invested into fighting illicit fuel activities. The Chief Executive Officer (CEO) of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":655296,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-655295","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Downstream Petroleum Sector Grew 15% In 2018 \u2013 NPA - Ghanamma.com<\/title>\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.ghanamma.com\/2019\/07\/12\/downstream-petroleum-sector-grew-15-in-2018-npa\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Downstream Petroleum Sector Grew 15% In 2018 \u2013 NPA - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Hassan Tampuli (right), Vice-President Dr Bawumia and Dr Amin Adam THE PETROLEUM downstream sector saw a 15% surge in the consumption of petroleum products from 3.4 million metric tonnes in 2017 to 3.9 million metric tonnes in 2018. 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