The Ghana Chamber of Bulk Oil Distributors (CBOD) has welcomed the introduction of a new standardised measurement system for the country’s oil and gas sector.
The new standard is expected to ensure greater accuracy and reliability in revenue assurance measurements and was developed collaboratively by the Ghana Standards Authority (GSA), the Ministry of Trade and Industry (MoTI) and industry stakeholders.
In a press release issued on 21 June 2024, CBOD welcomed the Ministry’s directive mandating all entities involved in oil and gas revenue assurance to comply with the new standards.
“A single unified measurement system certified by the GSA is sufficient to ensure accurate and reliable data,” the CBOD statement read.
“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 press release proposes that meters following the new GSA standards could be installed by various bodies, including storage depots, the National Petroleum Authority (NPA) or the Ghana Revenue Authority (GRA).
“This system aligns with international best practices,” CBOD argues, “where standard authorities handle meter calibration, eliminating the need for duplication by several entities, which comes at a cost to the consumer,” the statement added.
CBOD is the leading industry body representing bulk oil import, distribution and export companies (BIDECs), storage depots and other allied petroleum service providers (PSPs) within Ghana’s downstream petroleum sector.
Read the full statement below:
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