Tag: NPA
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Fuel prices may go down by 15% – NPA Boss
The National Petroleum Authority (NPA) says per its calculation, fuel prices at the pumps may go down by 15% on March 15, which is the next pricing window. This follows the 30% drop in global crude prices and the relative stability of the cedi against major international currencies. Groups like the Chamber of Petroleum Consumers…
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COPEC demands reduction in fuel prices as global crude prices drop again
The Chamber of Petroleum Consumers, COPEC, wants Oil Marketing Companies (OMCs) in the country to reduce their ex-pump prices for consumers to reflect the sustained decline in the global crude oil prices. According to COPEC, consumers could be benefitting from a reduction of between 10%-32% compared to the 2% that consumers have been given over…
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Cylinder Re-circulation Model pilot implementation launched in Kade
The National Petroleum Authority, NPA, and the Ministry of Energy, has finally launched the pilot implementation of the Cylinder Re-circulation Model at Kade in the Kwaebibirim Municipality of the Eastern Region. The Cylinder Re-circulation Model, which is primarily aimed at reducing LPG-related accidents according to government, will also create more jobs contrary to claims by…
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CBOD committed to tackling corrupt practices in petroleum industry – Senyo Hosi
The Chief Executive Officer of the Chamber of Bulk Oil Distributors, Senyo Hosi, says his outfit is undertaking a self-assessment exercise to help reduce diversion of fuel in the petroleum industry. According to him, it is important for all stakeholders in the sector to help government expose corrupt acts in the downstream sector that is…
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Gov’t launches Petroleum Product Marking Scheme to check stealing of subsidized fuel
Government has expressed optimism that the diversion and stealing of subsidized fuel will be greatly reduced with the introduction of a new monitoring system known as the Petroleum Product Marking Scheme. The system uses a special marker to trace quantities of petroleum products at all operational depots in the country prior to distribution to the…
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NPA to receive technical support from India to implement new gas distribution policy
The National Petroleum Authority, NPA, is to be assisted by the Indian Oil Corporation Limited (IOCL), to implement the Cylinder Recirculation Model of the new LPG policy. This follows a Memorandum of Understanding (MoU) signed between the two companies in India. Officials from both the NPA and Ministry of Energy are in India to discuss…
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BOST must justify any increase in its margin on petroleum prices – IES
The Institute for Energy Security (IES), says managers of the country’s petroleum sector could have a stronger case to increase the BOST margin on petroleum products only if BOST accounts for its use of the revenue. It follows a withdrawal of the proposed one hundred percent increase in the BOST margin on the prices of…
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Withdraw ‘insensitive’ increase in BOST margins – COPEC to NPA
The Chamber of Petroleum Consumers (COPEC), wants the National Petroleum Authority (NPA), to withdraw an increment it has introduced to some petroleum products. The National Petroleum Authority on Friday directed Oil Marketing Companies (OMCs) and LPG Marketing Companies to apply an upward review of a combined 4 pesewas increase in fuel prices, but COPEC says…
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NPA to set up prosecution department to tackle crime in downstream petroleum industry
The Chief Executive Officer of the National Petroleum Authority, NPA, Hassan Tampuli, has announced that discussions are underway which will lead to the establishment of a specialized office that will prosecute people in the downstream petroleum sector, whose activities negatively impacts expected revenue for national development. During the recent 2020 budget presentation to Parliament, Finance…
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NPA stops over 90% of fuel diversions
The National Petroleum Authority (NPA) has disclosed that it has curbed over ninety percent of illegal diversion of fuel over the past one year. As a result, petroleum product exports to neighbouring countries have reduced from 30 to two million litres between August last year and the same period this year [2018]. The CEO of…