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The Association of Oil Marketing Companies (AOMCs) organised a 2-day workshop dubbed 'MASTERCLASS WORKSHOP ON EX-PUMP PRICING' on 8th February, 2017 & 9th February, 2017, at the association's secreteriat as a Continuous Industrial Education (CIE) Training for its members.

The workshop highlighted the strategies that could be adopted by OMCs/LPGMCs in negotiating with BDCs for product supplies which could enable them set competitive prices for petroleum consumers.

 

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FEBRUARY 2, 2017

npa

The Acting Chief Executive of the National Petroleum Authority, Hassan Tampuli says the immediate objective of the President of the Republic of Ghana, His Excellency, Nana Addo Akufo Addo is to ensure the constant supply of quality fuel for both motorists and power generation.

He said the provision of quality fuel will ensure smooth flow of vehicles for motorists and constant power generation for industries and households.

Mr. Tampuli mentioned these objectives during his first meeting with staff of the Authority since his appointment as Acting Chief Executive.

Mr. Tampuli also had an introductory meetings with Directors and Heads of departments of the NPA and subsequently met with all staff.

He observed that the petroleum downstream sector is critical to the sustenance of the economy, security of the state and livelihood of its citizens.

It is therefore imperative that the NPA upholds the highest health and safety standards in the downstream industry in order to promote the growth and development of the economy.

Mr. Tampuli observed that the recent concerns raised by the public on safety standards of the petroleum downstream industry must be a wakeup call for the strict enforcement of regulations in the downstream industry.

Mr. Tampuli pledged to provide the necessary leadership that drives results and appealed to all staff for their support to make the goals of the new administration a success.

He assured the visibly enthusiastic staff of his commitment to quality and competence and tasked them to continue to deliver and show good results.

Speaking on behalf of the staff of the Welfare Association of the NPA, Mr. Joseph Awen Awan, pledged the support, commitment and cooperation of staff towards achieving the vision of the new administration.

Source: http://www.myjoyonline.com/business/2017/February-1st/our-objective-is-to-sustain-the-supply-of-quality-fuel-for-consumers-npa.php

FEBRUARY 2, 2017

PORT

The Takoradi Port would now be able to accommodate bigger vessels to enable large quantities of cargo to be loaded through the port.

This follows the completion of the first 200 metres of the proposed 800 metres quay wall bulk ore terminal as part of the ongoing expansion project at the country’s maiden port.

Currently, the new bulk jetty, which has been dredged to minus 16 (-16) chart datum, has been opened to traffic to handle bulk mineral ore which is expected to boost revenue generation.

So far two large vessels, M.V Josco Fuzhou with a draft of 11.7m and M.V Iris Oldendoorf sailing with a draft of 13.5m have berthed at the port to load bauxite.

To meet the ever-growing demands of the port’s clientele, the Port of Takoradi has embarked on a major expansion and investment programme to transform the port’s capacity, facilities, and operations.

The original master plan recommended segregation of cargo and improved container handling facilities.

However, the discovery of oil prompted a new master plan to accommodate facilities to service offshore support operations, development of bulk and container terminals, the positioning of a floating dock for vessel repairs with depths ranging from 10 to 16 metres.

Phases one and two of the project included the extension of the breakwater, provision of a bulk terminal/jetty to handle bulk commodities and dredging of the access channels. The berths will also be dredged to a depth of 16.0 metres.

Speaking to Business Guide, the Public Affairs and Marketing Manager of the Takoradi Port, Peter Amo-Bediako, mentioned that the expansion project of increasing revenue was gradually coming to fruition even though the entire project had not been completed.

He explained that unlike the old port, the construction of the new bulk jetty would enable the Takoradi Port to accommodate larger vessels with large volumes of cargo and would also help reduce operation cost.

He mentioned that since the Takoradi Port commenced business in 1928, the two vessels are the largest vessels in terms of size and draft to berth at the port.

Mr Bediako noted that the first vessel, M.V Josco Fuzhou, had an initial load of 37.760m/t at the No.3 buoy and was later shifted to the new bulk jetty to top-up with 13.367mt of bauxite, increasing the final load to 51.127mt.

“The second vessel did not berth at buoy N0.3 at the old port to do initial loading but was piloted to the new jetty to commence loading of 63,000mt of bauxite. This brings to total loading to 114,127mt of bauxite,” he added.

Source:  Daily Guide

FEBRUARY 2, 2017

Osei-Akoto

The minister designate for Evaluation and Monitoring, Dr. Anthony Akoto Osei has hinted of plans to help restructure the country’s energy debts. Taking his turn at the ministerial vetting committee on Monday, Dr. Akoto Osei said his ministry has plans to collaborate with the energy and financial ministries to ensure that the country is not plunged into erratic power supply. He emphasized that “If you have 200 million in your budgets and you go and give 800 million, and then obviously there will be debts. So you need to stick to your budget.

The nature of the energy sector is that it deals with big finances, and if we stick by our budget the issue of arrears will not arise. He adds that as a member of the economic management team, his outfit will not hesitate to advice the finance ministry on the outcome of negotiation of the IMF programme.“As a member of the economic management team, my advice is to support the finance minister when he meets the EMT, and we will be around to advise him to take it to parliament because it is constitutional”

 
Source: http://3news.com/akoto-osei-to-collaborate-with-other-ministers-to-manage-energy-debts/

JANUARY 26, 2017
The Lead Consultant of Wellspring Petroleum Services Limited, a petroleum business consultancy firm, Mr Michael Bozumbil has called on the National Petroleum Authority (NPA) to vigorously pursue consolidation measures in the industry.
Consolidation among the indigenous Oil Marketing Companies (OMCs), he said, would help them come together to form bigger entities to withstand stiff competition from foreign companies.

Mr Bozumbil, who is also the Chief Executive Officer (CEO) of PETROSOL, an Oil Marketing Company, said the industry was currently made up of a lot of players with very weak financial and infrastructure base and also very small market share, a situation that makes them very vulnerable for take-over by foreign players who are good at beating the system by getting unpatriotic local people to front for them.

“If this issue is not quickly addressed frontally, the gains made so far by having indigenous players controlling greater market share now will be lost with time to foreign players which will take us back to the era before deregulation when multinationals controlled a bigger market share,” he said.

He, therefore, advised that “the NPA should use ingenuous regulatory measures with some incentives to make the existing small indigenous players see the need to come together to form bigger entities.”

While recognising that the NPA had done well by encouraging indigenous private participation in the industry, it was important to push the agenda of consolidation.

Ensuring regulatory clarity

Mr Bozumbil explained that in a deregulated environment, regulatory clarity was very key to ensure that there was no ambiguity when interpreting guidelines.

Therefore, the NPA, he said, should do well to ensure that the guidelines are as simple, clear and unambiguous as possible.

“For instance, whenever the NPA comes out with new regulations or requirements, do those regulations or requirements affect only new entrants or existing ones or both? For example, currently, the NPA has raised the minimum number of outlets one should have to be licensed as an OMC to service stations. What exactly does this mean? Is it the case that only new entrants must have at least seven service stations or that existing OMCs with less than seven stations must meet the number before their licenses are renewed”, he quizzed.

Again, one of the regulations or requirements is that for a company to be licensed as an OMC or BDC, it must show evidence of local partnership of at least 50 per cent to be held by Ghanaian citizens.

“What exactly does this mean? Is this applicable only to new entrants or existing entrants must meet this requirement before their licenses are renewed? It is important for there to be regulatory clarity to promote easy compliance and also engender trust and confidence in the regulator,” he said.

Growing indigenous companies

He explained that to ensure that indigenous companies grew in the sector; the NPA should also consider reviewing the provisions of licenses to OMCs.

“The number of stations requirement for new entrants should be raised from the current seven stations to at least 15 stations but with preference given to Ghanaian partnerships. Additionally, requirements should include demonstrable evidence of experience or track record of management team,” he said.

Therefore, an OMC he said, should be able to source products directly to supply its stations if it has the capacity to pay without having to necessarily pass through another BDC or set up a new entity all together to use it as the vehicle for a BDC license.

“In other countries, OMCs own their own petroleum storage depots. In fact, even some years ago in Ghana, some of the major OMCs had their own depots. Therefore, I think the decision to form a separate entity or not should purely be a matter of corporate strategy for the OMC, rather than regulatory requirement,” he said.

He said what the NPA could do to facilitate the implementation of his suggestion was to encourage operators that will concentrate on providing only depot infrastructure services.

Deregulation in Ghana

Deregulating prices of petroleum products was implemented in July, 2015 in Ghana. One of the major policy objectives that has been achieved after deregulation has been the reduction of the burden of petroleum subsidies on government budget by ensuring that there is full cost recovery by Petroleum Service Providers (PSPs).

In 2015, a dedicated petroleum downstream regulator, the NPA was established by an Act of Parliament (Act 691) to continue the process of implementing the policy, which was initially being handled by the Energy Commission and later supported by the National Petroleum Tender Board (NPTB), but this time, with a much more focused approach, and with the necessary legal backing.

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