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Business News of Thursday, 30 June 2016

Source: Goil

Oil and Shipping Africa conference opens in Accra

A two-day oil and shipping Africa Conference has been held in Accra to deliberate on the Petroleum Industry in Africa and international shipping and bunkering issues.

It was organized by PETROSPORT with sponsorship from seven major oil giants including Ghana Oil Company Limited, GOIL.

The session will highlight particularly Ghana’s petroleum sector in the context of the global oil and shipping industry as well as bunker fuel quality and fuel management challenges for the future in Sub-Saharan Africa.

The chief Executive of the National Petroleum Authority Moses Asaga who read a speech on behalf of the Minister of Petroleum, underscored the maturity and resilience of Ghana’s petroleum sector after deregulation. This, he said, has ensured sanity in the sector

On storage facilities for fuel, Mr. Asaga announced that Takoradi Port was now ready to lift fuel, in addition to the Tema Port.

He also noted that 50 percent of the country’s domestic consumption of liquefied petroleum gas (LPG) is now being met by the Atuabo Gas facility.

The Managing Director of the Ghana Oil Company Limited, GOIL, Mr. Patrick A.K. Akorli, reiterated that GOIL has made huge investments in the Bunkering sector to meet anticipated demands.

He mentioned the construction of the 13.5 million litre storage facility at the Takoradi Port and the completion of additional storage tanks at the Sekondi Naval Base as evidence that GOIL is poised to satisfy the demands and expectations of the sector in the sub-region.

Presentations on projected developments and an overview of the plan of activities of the Ghana National Petroleum Corporation, GNPC, were laid out by Chief Operating Officer, Michael Aryetey.