CBOD backs Energy Ministry’s directive on Standard Measurements in Oil Sector
The Chamber of Bulk Oil Distributors (CBOD) has expressed its support for a recent directive issued by the Energy Ministry to the Ghana Revenue Authority (GRA), mandating compliance with new measurement standards in the oil and gas sector.
This directive requires all entities involved in revenue assurance measurements to adhere to the new standards developed by the Ghana Standards Authority (GSA) in collaboration with the Ministry of Trade and Industry and other stakeholders.
In a statement, CBOD highlighted its belief that a single, unified measurement system certified by the GSA is crucial for ensuring accurate and reliable data, which is essential for a streamlined and well-regulated oil and gas sector.
The Chamber emphasized the importance of a standardized approach where meters mandated by the GSA can be installed by either the depot, the National Petroleum Authority (NPA), or the GRA.
CBOD also advocated for a system in which the private sector plays a more prominent role in managing specific aspects of the sector, while the government maintains an overarching role by instituting a regulatory framework and enforcing standards.
They believe that this approach will align with international best practices, where standard authorities handle meter calibration, thereby eliminating the need for duplication by several entities, which ultimately increases costs for consumers.
By supporting this directive, CBOD hopes to foster a more efficient and cost-effective oil and gas sector in Ghana, ensuring that the industry operates with the highest standards of accuracy and reliability.
