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Business News of Thursday, 24 November 2011

Source: GNA

Board of Petroleum Commission inaugurated

A Seven-Member Board of the Petroleum Commission (BPC) was on Wednesday inaugurated and charged to execute sustainable and cost-efficient activities to achieve optimal levels of resource exploitation for the benefit of the citizenry.

The Commission, which was established in response to the demands of Article 269 of the 1992 Constitution required the body to also monitor and ensure compliance with national policies, laws, regulations, agreements on health, safety and environmental standards in petroleum activities.

Speaking at the inaugural ceremony organized by the Ministry of Energy in Accra, the Sector Minister, Dr Joe Oteng-Adjei expressed confidence in the capabilities of the members saying “I am confident the Governing Body…will not fail in its responsibility of assisting government in turning the fortunes of our dear country around using the oil and gas resource. ”

He advised the newly-inaugurated Board to restrict itself to issuing broad policy guidelines, approving operational targets and ensuring efficient management of resources to achieve approved targets.

Professor Ivan Addae-Mensah, Chairman of the BPC gave the assurance that the Commission would lay a firm foundation for the successful implementation of the programme to meet the government’s objective of ensuring an effective and efficient management of the hydrocarbon resource of the country.

He said the expectation of most Ghanaians on the way and manner the oil and gas wealth would and should be utilized was high, stressing the need to manage the sector effectively to benefit the citizens.

Other members of the BPC included Dr Kwabena Donkor, Mr Daniel Amlalo, Prof David Atta Peters, Mr Kwame Pianim, Mrs Victoria Emeafa Hardcastle and Mr Bishop Akologo, who was not present at the ceremony.

Dr Joe Oteng-Adjei administered the swearing of the official oath and the oath of secrecy.

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