Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

‘Set up online repository for upstream Petroleum block’ -Petroleum commission advised

  • SOURCE: | Editor
  • gold_0
    The Petroleum Commission has been advised to urgently set up an online repository where information on upstream petroleum blocks could be accessed.

    The Petroleum Commission is the upstream regulator of Ghana’s petroleum sector. It is mandated to regulate, manage and co-ordinate all activities in the upstream petroleum industry for the overall benefit and welfare of Ghanaians.

    But the Commission does not have an online repository, where information on the petroleum sector issues such as ownership of blocks, co-ordinates of oil blocks, allocation of blocks as well as annual payments made by upstream petroleum companies could be found, according to the Ghana Extractive Industry Transparency Initiative (GHEITI) 2012/2013 Report on the Oil and Gas sector.

    The Report, prepared by Messrs Boas and Associates and launched in Accra last week, emphasised the need for the setting up of the repository in order to enhance transparency and to further improve the efficiency of the operations the Commission.

    “The Petroleum Commission is advised to establish as quickly as possible an online repository where information on upstream petroleum blocs are found. Such information will enhance transparency and improve the efficiency of the operations of the commission, ” the Report recommended.

    It further called on the Ministry of Petroleum to abandon the use of the open door negotiation process in the award of oil blocks. That, the Report, observed was not an open process and might lead to awarding oil blocks to inefficient operators.

    “To ensure transparency and efficient management of the petroleum resources, the Ministry of Energy and Petroleum should introduce licensing rounds, including bidding, and also make available on its website details with operators,” the Report proposed. In 2014, the Ministry of Petroleum and Energy was split into Ministry of Petroleum and Ministry of Power.

    In 2003, Ghana, as a country, associated itself with the EITI. The Initiative seeks to improve development outcomes and reduce the potential for corruption and large-scale embezzlement of benefits received by governments from extractive industries. Regular publication of extractive industry payments and government receipt is a requirement of the initiative.

    SOURCE : PUBLIC AGENDA

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Jul 2018 >>
    MTWTFSS
    25 26 27 28 29 30 1
    2 3 4 5 6 7 8
    9 10 11 12 13 14 15
    16 17 18 19 20 21 22
    23 24 25 26 27 28 29
    30 31 1 2 3 4 5
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar