Option to be in downstream sector

Indian Oil has signed a Memorandum of Understanding (MoU) with the National Petroleum Authority (NPA) of Ghana for providing its assistance and technical expertise in the implementation of Ghana’s National LPG Promotion Policy.

With India’s emergence as a world leader in provision of clean energy to its citizens by the expansion of its LPG network, Ghana sought assistance from India in its own efforts to promote to safe, clean and environmentally friendly LPG for increased domestic, commercial and industrial usage.

The MoU was exchanged between NPA of Ghana and Indian Oil in the presence of Minister of Petroleum and Natural Gas Dharmendra Pradhan, and Michael Aaron, High Commissioner of Ghana at New Delhi, said the Petroleum and Natural Gas Ministry on 22 Jan 2020. Alhassan SulemanaTampuli, Chief Executive, NPA, Ghana and L.K.S Chauhan, Chief General Manager (LPG Operations), Indian Oil signed the MoU.

The purpose of this MoU is to strengthen cooperation between the Parties in the field of Petroleum in particular LPG by which Indian Oil would support the NPA on the successful implementation of the Re-circulation Model (CRM) of LPG.

In this regard, Indian Oil, the country’s flagship oil marketing company would on behalf of India provide support to the National Petroleum Authority of Ghana in several areas such as development of Health, Safety, Security and Environment (HSSE) Standards, development of Licensing, permit and legal framework, development of economics for LPG bottling plant, pricing structure, and communication strategy.

Indian Oil will also assist in areas of infrastructure development for the new LPG Value chain, support for upgrading capacities of institutions along with policy development and review.

The MoU also provides for administrative assistance to Indian Oil in case it decides to participate as a commercial participant in Ghana’s downstream petroleum sector. Fiinews.com