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CBOD welcomes new measuring standard for oil and gas sector

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The Chamber of Bulk Oil Distributors’ (CBOD) has received a letter from the Ministry of Energy addressed to the Ghana Revenue Authority (GRA) on a new standard for measurements in the oil and gas sector. This standard was primarily developed collaboratively by the Ghana Standards Authority (GSA) with the Ministry of Trade and Industry and other stakeholders.

The Ministry’s directive mandating all entities involved in revenue assurance measurements within the oil and gas sector to comply with the new standard is welcomed by the Chamber. The CBOD believes that a single unified measurement system certified by the GSA is sufficient to ensure accurate and reliable data.

CBOD emphasises the importance of a streamlined and well-regulated oil and gas sector. The Chamber advocates for a system where the private sector plays a more prominent role in managing specific aspects with the government maintaining an overarching regulatory framework and enforcing standards.

The Chamber proposes a standardized approach, where meters mandated by the GSA could be installed by either the Depot, the National Petroleum Authority (NPA), or the Ghana Revenue Authority. The GSA would be responsible for the regular calibration of the meters. This system aligns with international best practices, where standard authorities handle meter calibration, eliminating the need for duplication by several entities, which comes at a cost to the consumer.

The role of the GSA in ensuring and maintaining standards is in the best interest of the state. All regulations within the sector should ultimately serve the national interest and be subject to state/regulatory oversight.

The Chamber acknowledges GRA’s quest to ensure revenue assurance for the Government. Nevertheless, any institution, whether private or public, mandated to undertake that on Government’s behalf, should do so in compliance with standards set by both the GSA and the Ministry of Trade Industry to ensure a transparent and efficient measurement system within the oil and gas sector

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