Page 12 - AfrOil Week 22 2022

AfrOil POLICY AfrOil

Ghana hosts regional workshop

on draft ECOWAS Petroleum Code

GHANA GHANA hosted a regional workshop on the region will therefore play a major role in the
validation of ECOWAS’ draft Petroleum Code global energy context in the coming years. In
that opened in Accra on May 25, the Ghanian order to capitalise on this opportunity, we must
Times reports. strengthen regional co-operation and pro-
The workshop was convened in line with mote a regional market for hydrocarbons,” he
an ECOWAS initiative that aims to provide the remarked.
region with a legal framework for the regional He went on to say that the Code would
petroleum industry. This regional code will address a number of thorny issues, includ-
enable member states to attract more invest- ing transparency, environmental protection,
ments, promote competition between local and increased government revenues, the welfare of
regional companies and facilitate the develop- populations living in production areas and the
ment of a dynamic and integrated oil sector comprehensive development of the oil and gas
within West Africa. value chain.
Ali Nuhu Abaka, deputy director of down- The three-day workshop in Accra was
stream activities at Ghana’s Ministry of Energy, attended by experts from the energy ministries
opened the workshop on behalf of Energy Min- of ECOWAS member states, as well as officials
ister Matthew Opoku Prempeh. He noted that from relevant government national agencies
upstream operations were the focus of the new and stakeholders. All attendees were expected to
regulations. The Petroleum Code will be the contribute to the production of a comprehensive
fundamental law governing the exploration and Petroleum Code for the growth and advance-
production of hydrocarbons, as well as the offer- ment of the petroleum sector in the region. ™
ing of hydrocarbon rights, he said.
Abaka stated further that he expected the
reforms to contribute to increased investment
in the sector. They will compound the impact of
the widespread adoption of production-sharing
contracts (PSCs), under which ECOWAS mem-
ber states have arranged to explore and develop
14 oil blocks in the region’s sedimentary basins,
making several hydrocarbon discoveries.
“As you know, Ghana is not the only hydro-
carbon producing country in the region. Nige-
ria, Côte d’Ivoire [and] Niger also produce oil,
and very soon, Senegal, which has discovered
large quantities of natural gas in its sedimen-
tary basins [will also start production]. Our The three-day workshop took place in Accra (Photo: ECOWAS)

Labour union seeks corruption probe for

head of Zimbabwe’s fuel import monopoly

ZIMBABWE A Zimbabwean labour union has demanded a its secretary-general, Panganai Chiota, regard-
corruption probe into the dealings of the chief ing companies allegedly built up and run by
executive of the National Oil Company of Zim- NOIC head Wilfred Matukeni using illegiti-
babwe (NOIC), which runs the country’s sole mately acquired resources.
liquid fuels importation pipeline and associated Chiota submitted information about the
storage facilities. companies to both the Zimbabwe Anti-Corrup-
The Zimbabwe Allied and Petroleum Work- tion Commission (ZACC) and the President’s
ers Union (ZIPAWU) demand follows a filing by Office.

P12 www. NEWSBASE .com Week 22 01•June•2022