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Business News of Saturday, 9 February 2013

Source: CitiFM

GNPC, Petroleum Commission will stay within given mandate - Buah

Energy Minister-designate, Emmanuel Buah has stated that he will ensure the Ghana National Petroleum Corporation (GNPC) and the Petroleum Commission stay within their given mandate when he assumes his new role.

Prior to the establishment of the Petroleum Commission, the GNPC was responsible for licensing, regulation, exploration, production as well as the disposal of petroleum products in the upstream sector.

But with the establishment of the Petroleum Commission, the GNPC has been mandated to concentrate on commercial activities in the upstream oil and gas sector rather than dabbling in regulations and policy making.

But some industry players say the move was brewing a turf war between the two institutions.

Energy Minister-designate, Emmanuel Buah answering questions during his vetting on Thursday said he will ensure the two stay within their given mandate.

“The law is clear, GNPC is to focus on operations and build their capacity as operators and discover more oil for Ghana that is GNPC’s goal. I am very happy that their own strategic plan focuses on making sure that they build that capacity and to venture into exploration and I believe that you see the strategic alliances that GNPC is making among others. I think that it is in a good direction.”

He added that the GNPC has no role in regulation; the law clearly makes it clear that it is the Petroleum commission that is in charge of regulation. The Ministry of Energy and the Minister will be in charge of policy. If I am given the nod, this is clearly what will be happening. If the GNPC has even played any role at all, it has been in an advisory capacity to the minister.”

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