The National Petroleum Authority (NPA) has reached an agreement with Senegal and Gambia to export petroleum products from Ghana.

This expands the list of countries already importing petroleum products from Ghana, including Mali, Niger, Burkina Faso, Côte d'Ivoire, and Togo.

In 2023, the total volume of petroleum products re-exported and transited to these neighboring countries was 385,154,100 liters.

Delivering his opening speech at the Ghana International Petroleum Conference (GhiPCon), with the theme: “The Petroleum Industry:  Building a Future for Growth, Efficiency, and Sustainability”,

Dr. Mustapha Abdul-Hamid stated that the rise in export volumes is evidence of the NPA’s significant achievements in tackling illicit fuel activities in the country.

At present, the industry has over 3,000 service providers with substantial local involvement, collectively supplying over four million metric tonnes of petroleum products each year, both domestically and internationally.

This progress has enabled the industry to become a major contributor to the growth of Ghana’s gross domestic product (GDP).

“We estimate that the sector had a monetary value of over Ghc 71 billion, representing about 84% of the country’s 2023 GDP. In the past seven years the industry returned an average annual value of over Ghc 35 billion”, he said.

The NPA emphasized its commitment to leveraging technology and innovation to stay relevant in the evolving downstream petroleum industry. By developing and implementing forward-thinking strategies and policies, the NPA aims to ensure the industry's efficiency and profitability while providing consumers with optimal value for their money.

The authority highlighted that the new transparent automatic price adjustment formula has transitioned from an annual regulated price with unpaid subsidies to a more frequent bi-weekly and daily pricing model.

Dr. Abdul-Hamid underscored the NPA’s zero-tolerance stance on toxic fuels, noting that Ghana, Kenya, Tanzania, Uganda, and Morocco now use low-sulphur fuels with typical imports below 50 ppm, and local refineries are on track to meet compliance standards.

He also pointed out that the NPA has introduced technology-driven initiatives such as the petroleum marking scheme, bulk road vehicle tracking project, electronic cargo tracking system, and enterprise relational database management software to ensure the quality and quantity of petroleum products delivered to consumers.

Meanwhile, the Minister of Energy, delivering a speech on behalf of Vice President Dr. Mahamudu Bawumia, praised the NPA for its effective management of the "Gold for Oil" program and the Cylinder Recirculation Model (CRM), which has increased investor confidence in the sector.

He noted that these efforts, combined with a strong policy framework, have encouraged private sector investment and significantly contributed to achieving Ghana’s goal of 50% LPG penetration by 2030.

He urged the NPA to continue investing in infrastructure, adopting cutting-edge technology, and strengthening the supply chain to secure Ghana’s energy future.

He said with the geopolitical tensions to technological advancements and environmental concerns, “our strategies must be robust, innovative, and adaptable.”

He also pledged the government's ongoing dedication to advancing and exploring policies that boost Ghanaian content, support capacity building, and create opportunities for the Ghanaian population.

He believes that such efforts can ensure that the advantages of our resources are broadly distributed while fostering the growth of our local workforce and businesses.