‘CPP gov’t will probably merge BOST and NPA’
The Convention People’s Party (CPP) has said it would merge the Bulk Oil Storage and Transportation (BOST) and the National Petroleum Authority (NPA) should it win the 2020 general elections.
“We will look at the NPA and BOST conundrum…and see whether it is important to have those two institutions in place,” he stated. “We will look at how best we can probably merge the two so that they can give good regulation.”
This came to light during the maiden Energy Manifesto Dialogue organized by the Institute for Energy Security (IES).
The IES Energy Dialogue was focused on unraveling the intents of the political parties, as stated in their respective manifestoes for the energy sector.
The event held at the Labadi Beach Hotel sought to bring to the spotlight, the plans of the political parties and open their policies up for Ghanaians to seek more explanation on them.
Mr Kwame Jantua, the representative of the CPP, in his delivery, said that the political party believes in setting long- term development plan for the sector.
Because of this, he added that the CPP “seeks to increase the daily upstream of the production target to 1 million barrels of oil by 2030”, by mainly focusing on indigenization of the shallow-water blocks in Ghana, to be owned and controlled by Ghanaians.
He stated that the Petroleum Revenue Management Agreement Act would be revised to include long-term national development plans to ensure that, the revenue derived onshore from oil locally produced, would be distributed properly essentially leading to a cut in cost on imported crude products.
The National Petroleum Authority is the state regulatory agency established by an Act of Parliament (NPA Act 2005, ACT 691) to regulate, oversee and monitor the petroleum downstream industry in Ghana.
As a Regulator, the Authority ensures that the industry remains efficient, profitable, fair, and at the same time, ensuring that consumers receive value for money.
The Bulk Oil Storage and Transportation Company Limited (BOST) was incorporated in December 1993 as a private limited liability company under the Companies Act,1963 (Act 179) with the Government of Ghana as the sole shareholder. Its mandate includes developing a network of storage tanks, pipelines and other bulk transportation infrastructure throughout the country, renting or lease out part of the storage facilities to enable it to generate income, to keep Strategic Reserve Stocks for Ghana, to own, manage and develop a national network of oil pipelines and storage depots among others.
The CPP’s plan to merge the two agencies remain one of its top energy policies as they go into the 2020 general elections.