{"id":166958,"date":"2024-03-30T15:56:49","date_gmt":"2024-03-30T15:56:49","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/"},"modified":"2024-03-30T15:56:49","modified_gmt":"2024-03-30T15:56:49","slug":"energy-transition-threatens-gnpcs-market-position-piac-warns","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/","title":{"rendered":"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Public Interest and Accountability Committee (PIAC) has issued a warning regarding the challenges faced by National Oil Companies (NOCs), including the Ghana National Petroleum Corporation (GNPC), due to the global shift towards sustainable energy.<\/p>\n<p>This transition, according to the PIAC in a Joy News report, threatens to diminish the demand for fossil fuels, impacting NOCs\u2019 market value and exposing them to various risks.<\/p>\n<p>The PIAC, in a report titled, \u201cThe Role of GNPC in the Upstream Petroleum Industry: Challenges and Prospects\u201d, highlighted the need for NOCs to adapt by innovating and revising their strategies to remain viable in the changing energy landscape.<\/p>\n<p>\u201cNOCs are facing unprecedented pressures from the energy transition, which is the long-term shift away from fossil fuels towards cleaner and more sustainable sources of energy.<\/p>\n<p>\u201cThe energy transition is driven by various factors, such as the growing awareness of climate change and its impacts, the increasing demand for energy access and security, the declining costs and improving performance of renewable technologies, and the changing consumer preferences and social expectations.<\/p>\n<p>\u201cThe energy transition poses an existential threat to NOCs, as it could reduce the demand and value of their core products, expose them to environmental, social, and governance (ESG) risks and liabilities, and undermine their competitive advantage and market share,\u201d the report said.<\/p>\n<p>The committee has also recommended a review of the nearly four-decade-old law that established GNPC, suggesting amendments to align with the industry\u2019s current dynamics and international standards.<\/p>\n<p>Originally, the GNPC was tasked with commercial responsibilities and some regulatory roles.<\/p>\n<p>However, since the creation of the Petroleum Commission in 2011, GNPC has refocused solely on commercial activities, representing the state in petroleum agreements and joint ventures, with the Commission now overseeing regulatory functions.<\/p>\n<p>The PIAC believes that updating the legal framework is essential for NOCs to operate effectively in this new era.<\/p>\n<p>ID\/BB<\/p>\n<p><strong>Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Public Interest and Accountability Committee (PIAC) has issued a warning regarding the challenges faced by National Oil Companies (NOCs), including the Ghana National Petroleum Corporation (GNPC), due to the global shift towards sustainable energy. This transition, according to the PIAC in a Joy News report, threatens to diminish the demand for fossil fuels, impacting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":166959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-166958","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013 - 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\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Public Interest and Accountability Committee (PIAC) has issued a warning regarding the challenges faced by National Oil Companies (NOCs), including the Ghana National Petroleum Corporation (GNPC), due to the global shift towards sustainable energy. This transition, according to the PIAC in a Joy News report, threatens to diminish the demand for fossil fuels, impacting [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-30T15:56:49+00:00\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013\",\"datePublished\":\"2024-03-30T15:56:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/\"},\"wordCount\":322,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/\",\"name\":\"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013 - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2024-03-30T15:56:49+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/03\\\/30\\\/energy-transition-threatens-gnpcs-market-position-piac-warns\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\"],\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/author\\\/ghanamma\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013 - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/","og_locale":"en_US","og_type":"article","og_title":"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013 - Ghanamma.com","og_description":"The Public Interest and Accountability Committee (PIAC) has issued a warning regarding the challenges faced by National Oil Companies (NOCs), including the Ghana National Petroleum Corporation (GNPC), due to the global shift towards sustainable energy. This transition, according to the PIAC in a Joy News report, threatens to diminish the demand for fossil fuels, impacting [&hellip;]","og_url":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/","og_site_name":"Ghanamma.com","article_published_time":"2024-03-30T15:56:49+00:00","author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"headline":"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013","datePublished":"2024-03-30T15:56:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/"},"wordCount":322,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/#primaryimage"},"thumbnailUrl":"","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/","url":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/","name":"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013 - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/#primaryimage"},"thumbnailUrl":"","datePublished":"2024-03-30T15:56:49+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2024\/03\/30\/energy-transition-threatens-gnpcs-market-position-piac-warns\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2024\/"},{"@type":"ListItem","position":2,"name":"Energy transition threatens GNPC\u2019s market position \u2013 PIAC warns \u2013"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2024\/#website","url":"https:\/\/www.ghanamma.com\/2024\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2024\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2024"],"url":"https:\/\/www.ghanamma.com\/2024\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/166958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/comments?post=166958"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/166958\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media?parent=166958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/categories?post=166958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/tags?post=166958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}