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Business News of Monday, 5 February 2018


Petroleum register will address corruption in petroleum sector – Deputy Energy Minister

The Deputy Minister of Energy in charge of petroleum, Mohammed Amin Adam has lauded government’s introduction of a petroleum register as a move that will help address corruption issues in the petroleum sector.

He said government through the register will “bring prudent coordination not only in the oil and gas sector but in other sectors of the economy as it will help in addressing secrecy as well as corruption”.

Speaking at the launch of the register at the petroleum commission Monday, February 5, the minister said Ghana has taken tremendous steps in ensuring that there is transparency in the oil and gas sector.

He said Ghana was adjudged number one when it scored 67 out of 100 points in the 2017 resource governance index of the Natural Resource Governance Institute.

“Ghana’s oil and gas sector scored a satisfactory 67 out of 100 points according to the 2017 resource governance index by the Natural Resource Governance Institute making Ghana the number one in the sub-Saharan region in terms of transparency and governance reforms” he added.

Mr Amin Adam reiterated that the contribution of the petroleum sector in the natural economy cannot be understated because it can be seen in Ghana’s performance and economic growth.

Section 56 of the petroleum exploration and production act 2016 (Act 919) mandates the petroleum commission to establish and maintain a register of petroleum agreement, licenses, permits and authorisation as prescribed which should be open to the public.