Home Business Stakeholders urge GNPC to be far more transparent with crude oil trade

Stakeholders urge GNPC to be far more transparent with crude oil trade


The Ghana National Petroleum Company (GNPC) has been urged by its stakeholders to be much more clear in pricing and marketing and advertising of crude oil and fuel. 

Individuals in a discussion board arranged by the Public Interest and Accountability Committee (PIAC) and GNPC, say there is really small data conveniently obtainable to them ahead of, all through and immediately after the remaining lifting of crude oil. 

The forum established the stage for participants in the oil and gas sector to share ideas and advise greatest tactics in pricing and advertising Ghana’s crude oil. 

The chairman of PIAC, Steve Manteaw mentioned that the forum afforded “stakeholders the opportunity to query GNPC to make clear what they do and why they do what they do to accomplish higher benefit for this country”. I support substantially much more transparency in the pricing and marketing than imposing certain forms in getting final decision by a committee right before we set our selling price options”. 

“My big concern has to do with the tendency to contaminate the entire crude oil trade with other financial transactions that have produced an affect on the realized price” he added. 

Mr Manteaw hinted that PIAC has developed a coverage short and shared with the governing administration on how unique items can be carried out for the nation to accrue the important advantage. 

He stated just about all associates in the sector have been continuously reporting favourable outcome in excess of the yrs from hedging. “The time has occur to search for the knowledge from our associates to aid us so we do very same and get better returns. 

A consultant from the Ghana Oil and Fuel for Inclusive Expansion (GOGIG) Samuel Bekoe suggested the GNPC to make its web-site up-to-date with applicable info for the general public to entry.

“The transparency of GNPC have to be found as a result of the sharing of details on their website in a timely and updated manner for all to at all situations know what GNPC is doing”.

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