Monday, September 26, 2022

IOCL signs an MoU with National Petroleum Authority of Ghana

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New Delhi: In a step that will further strengthen the relations between India and Ghana, Indian Oil Corporation Limited (IOCL) has signed an 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 the 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 has been exchanged between National Petroleum Authority of Ghana and IOCL in the august presence of Union Minister of Petroleum and Natural Gas (MoP&NG) Dharmendra Pradhan and High Commissioner of Ghana HE Michael Aaron at New Delhi. On the occasion, MoP&NG’s Joint Secretary (GP&M) Ashish Chatterjee, IOCL’s Director (Petrochemicals and Business Development) GK Satish, IOCL’s Director (Marketing) Gurmeet Singh and other senior officials of NPA of Ghana and IOCL were also present.

The MoU has been signed by NPA of Ghana’s Chief Executive Alhassan Sulemana Tampuli and IOCL’s Chief General Manager (LPG Operations) LKS Chauhan.

The purpose of this MoU is to strengthen cooperation between both parties in the field of petroleum in particular LPG by which IOCL would support the NPA on the successful implementation of the re-circulation model (CRM) of LPG.

In this regard, IOCL, the country’s flagship oil marketing company on behalf of India will provide support to the NPA 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. IOCL 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 IOCL in case it decides to participate as a commercial participant in Ghana’s downstream petroleum sector.

The MoU between the two countries symbolizes India’s recognition as a leader in providing clean energy access to millions of Indians through the Pradhan Mantri Ujjwala Yojana successfully implemented by MoPNG with the support of oil marketing companies like IOCL and others.

Disclaimer: This story is a press release and is being published without any editing by PSU Watch desk. Our editorial team has only changed the headline.

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