Vision1 FM                       Light FM                         Light TV

Ghana To Become Petroleum Hub

Government has disclosed that it will make Ghana a hub for refining petroleum products in the West Africa sub-region.



According to Vice President Dr Bawumia, making Ghana the petroleum hub is one of government’s strategic anchor initiatives that would serve as a new pillar of growth in the Ghanaian economy.

He made this known when he delivered the keynote address at the second edition of the Ghana International Petroleum Conference (GhIPCon) in Accra recently.

Dr Bawumia was confident the project would accelerate the growth of Ghana’s petroleum downstream sub-sector and make it a major player in the country’s economy.

This, according to him, would ensure development of a sustainable value chain.

“The Petroleum Hub project will increase the presence of major international oil trading and storage companies, create regional trading champions and encourage joint ventures between local and international companies for knowledge transfer and wealth creation. It will provide value addition in our petroleum industry.”

He said that developing a hub in Ghana would therefore require an increase in the country’s refining capacity beyond the current levels.

“It’s therefore important that our PSPs, especially the BDCs, change their business model to respond to the hub plans, as there would be more products for export than their current model of importing the shortfalls in production.”

He told the participants that “we need your industry expertise and ideas. I urge you to explore and discuss the varied ideas and strategies that would ensure the achievement of this vision of government.”



Source:Dailyguideafrica.com

More Lifestyle..

Parliament To Investigate Collapse Of Seven Banks Parliament To Investigate Collapse Of Seven Banks 2018-08-16 - The Finance Committee of Parliament will sit from 5-7 September...
AirtelTigo announces new appointments AirtelTigo announces new appointments 2018-08-16 - AirtelTigo has announced the appointment of new executives to...
Gov’t calls for dialogue with FIFA over suspension threat Gov’t calls for dialogue with FIFA over suspension threat 2018-08-15 - The Government of Ghana has called for further discussions with...
Vice President Bawumia Cuts Sod for Police Housing Project Vice President Bawumia Cuts Sod for Police Housing Project 2018-08-14 - The Vice President of the Republic, Dr Mahamudu Bawumia, has...
Football Icon Ronaldo Admitted In The Intensive Care Unit Of A Hospital At Ibiza Football Icon Ronaldo Admitted In The Intensive Care Unit Of A Hospital At Ibiza 2018-08-13 - Former Brazillian football icon Ronaldo is reportedly in the...