2019 CBOD Ghana Petroleum Indusrty Report

The 2019 Ghana Petroleum Industry Report is an evolution from the CBOD Downstream Petroleum Reports published each year since 2016. This enhanced format of our annual report is designed to provide visibility and the insights relevant to decisions and considerations by policymakers, businesses, academics and industry watchers.

This report has been produced with editorial contributions from policy and market experts across industry as can be noted in the composition of the editorial team.

Unlike the previous editions, which focused mainly on the petroleum downstream sector, the 2019 edition covers segments of both the downstream and upstream sectors of the Ghanaian industry. Ghana holds a policy view that segments the petroleum sector as downstream and upstream with no mid-stream, as may be observed in other jurisdictions.

The midstream sector, which usually covers gas processing, crude storage, transporting and marketing of oil, natural gas and natural gas liquids, are considered a part of Ghana’s downstream. However, as a result of the legacy relationships and regulations of the upstream sector in time past, some sections of the midstream (including the activities of the Ghana National Gas Company) are regulated or co-regulated by the upstream regulator, the Ghana Petroleum Commission.

This report is structured to reflect Ghana’s two sectors – upstream (Chapter 1 to 4) and downstream (Chapter 5 to 8), with both sharing in the legal review (Chapter 4) and gas sections (Chapter 3).

The upstream sector provides a brief insight into Ghana’s upstream petroleum history and reviews present and historical policy positions and happenings. It also reviews and reports on issues relating to finance, investments and fiscal policy in the sector.


The downstream section of this report maintains the structure of previous reports. It reviews policy, finance and fiscal policy, infrastructure and market happenings in the sector.

The gas section of the report provides a thorough review of the policy, finance and infrastructure situation of the sector.

The legal section provides insights into the legal regime regulating Ghana’s petroleum sector and reviews key legal happenings and cases with major policy and investment implications. The section also presents a position paper on the Aker Energy, GNPC and Government of Ghana petroleum agreement.

The recommendation section, a regular feature in previous reports, has been excluded from this year’s edition. This section often presents policy positions and recommendations for consideration by government and sector operatives on select issues. It will be restored in the 2020 edition which is expected to be published in 2021.