Key stakeholders unite at International Petroleum Conference 2024

The Ghana International Petroleum Conference (GHIPCON) 2024, held from July 17 to 18 at the Accra Marriott Hotel, marked another milestone in the petroleum downstream sector.

With the theme ‘The Petroleum Downstream: Building a Future for Growth, Efficiency, and Sustainability,’ the two-day conference and exhibition brought together key stakeholders to discuss strategies for the future growth and efficiency of the industry.

The first day of GHIPCON 2024 began with an opening ceremony that saw a keynote address delivered by the Minister of State, at the Ministry of Energy, Herbert Krapa speaking on behalf of the Vice President emphasized the government’s commitment to creating an enabling environment for the petroleum downstream sector.

He highlighted the importance of innovation, efficiency, and sustainability in driving the sector forward.

“Government regulations will continue to play a crucial role in shaping the petroleum downstream sector. Our collective responsibility, is to create a regulatory environment that promotes growth, encourages innovation, ensures safety and which prioritizes safeguarding the environment.

We must balance regulation with the flexibility needed for businesses to thrive. We must foster a collaborative relationship between government and industry stakeholders, and we must do all of that with Ghanaian participation in the industry as priority,” he said.

The first day also featured a panel discussion on “Ensuring sustainable oil supply: Strategies and challenges; Impact of government regulations on the petroleum downstream business, where industry leaders shared their insights and experiences. The National Petroleum Authority (NPA) CEO, Dr. Mustapha Abdul-Hamid, highlighted the authority’s initiatives to promote best practices and improve regulatory compliance.

“Our role at the NPA is to ensure that the industry operates within the highest standards of safety and efficiency. We are committed to promoting best practices and ensuring that our regulatory frameworks are adhered to.”

The second day of GHIPCON 2024 focused on sustainability, innovation and local content, with a series of presentations and discussions on emerging trends and technologies. The Chief Executive of the Chamber of Bulk Oil Distributors (CBOD), Dr. Patrick Ofori, urged stakeholders and international partners to capitalize on the conference and establish partnerships to unlock new investment opportunities.

“GHIPCON 2024 presents a unique opportunity for stakeholders and international partners to forge partnerships that will unlock new investment opportunities. By capitalizing on the insights and connections made at this conference, we can drive significant growth and development in the petroleum downstream sector,” he said.

A highlight of the day was a presentation by the African Refiners & Distributors Association (ARDA), which shared insights on the latest advancements in refining and distribution technologies. The presentation underscored the need for the sector to embrace innovation and remain agile in the face of changing market dynamics.

The conference concluded with remarks from the Executive Secretary of the Association of Oil Marketing Companies (AOMC), Anibor Kragha, who called for continuous collaboration and knowledge-sharing among industry players.

“Continuous collaboration and knowledge-sharing are key to addressing the challenges and seizing the opportunities in the petroleum downstream sector. Let us work together to build a future that is resilient, efficient, and sustainable,” said Mr. Kragha.

GHIPCON 2024 successfully provided a platform for industry stakeholders to engage in meaningful discussions and exchange ideas that will shape the future of the petroleum downstream sector. The event underscored the importance of collaboration, innovation, and sustainability in driving the sector’s growth and efficiency. As the industry looks ahead, the insights and strategies shared at GHIPCON 2024 will undoubtedly play a crucial role in building a resilient and prosperous future for the petroleum downstream sector in Ghana and beyond.

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