The Energy Minister, Herbert Krapah has challenged players in the Ghanaian petroleum industry to take advantage of the African Continental Free Trade Agreement (AfCFTA) to boost the industry.
He was speaking in a keynote address at the Ghana International Petroleum Conference (GhIPCON) 2024, which took place at the Accra Marriott Hotel from 17th to 18th July 2024. The conference brought together industry leaders, policymakers, and stakeholders from across the West African sub-region and beyond. The two-day event fostered critical discussions on navigating the evolving landscape of Ghana’s downstream petroleum sector, under the theme “The Petroleum Downstream: Building a Future for Growth, Efficiency, and Sustainability.”
“By removing trade barriers and fostering regional integration, AfCFTA can enhance market access, stimulate investment, and drive economic growth,” Mr. Krapah said.
“We must capitalize on these opportunities to strengthen our industry and promote sustainable development across the continent.”
Mr. Krapah commended the conference’s theme, stating, “it reflects our collective aspiration to address the challenges of our industry while fostering a future of prosperity and resilience.”
The conference prioritized discussions around achieving sustainable growth for the downstream sector. Discussions addressed critical topics such as ensuring sustainable oil supply, impact of government regulations on the petroleum downstream business and local content participation, among others.
GhIPCON 2024 was organized by the National Petroleum Authority, the Ghana Chamber of Bulk Oil Distributors (CBOD), and the Association of Oil Marketing Companies under the auspices of the Ministry of Energy.
