Business News of Monday, 5 February 2018
Source: www.ghanaweb.live
2018-02-05Petroleum register to improve transparency in oil and gas sector - Amin Adam
play videoMohammed Amin Adam, Deputy Minister of Energy in charge of petroleum
The Deputy Minister for Energy in charge of petroleum, Mohammed Amin Adam has disclosed that the launch of the petroleum register is to improve on transparency and democratic accountability in the oil and gas sector.
“The launching of this register is once again the fulfilment of the manifesto of the NPP government to improve on transparency and democratic accountability
Read full articlein the management of our oil and gas resources for the benefit of all Ghanaians,” he said.
He made this disclosure at the launch of the petroleum register at the petroleum commission Monday, February 5.
The deputy minister added that the register will ensure that regulations for the application of the open and competitive public tender process in the allocation of petroleum rights.
“This commitment to transparency is in response to our national aspirations and in fulfillment of article 21(1)f of the 1992 constitution of Ghana, which guarantees the right of every citizen to information” he stated.
The minister said further that the CDD’s Afrobarometer policy paper in 2015 on the management of Ghana’s petroleum revenue reports that an overwhelming majority of Ghanaians approve or strongly approve of government publishing all contracts between oil companies and the state.
He said “The IEA in its 2017 petroleum transparency and accountability index report called for the disclosure of petroleum contracts. Many other civil society organisation have made similar calls over the last several years”.
The petroleum register according to the minister is a response to the calls that citizens can now have access to petroleum contracts and other relevant information relating to the award of such contracts.
“Government is of the firm belief that the creation of a transparent and predictable environment through fiscal and non-fiscal measures delivers massive economic benefits in the attraction of the requisite investments needed to drive Ghana’s upstream sector” he stressed.
Mr Amin Adam said the petroleum register will ensure that the vision of the country becoming a petroleum hub can be achieved within the shortest possible time.
