The Chamber of Oil Marketing Companies (COMAC) Downstream Dialogue opened at the Royal Fiesta Hotel in Accra with an electrifying atmosphere of urgency and optimism. Under the theme Ghana’s Downstream Oil and Gas Sector: Challenges and Opportunities, the event gathered key stakeholders, including regulators, policymakers, and industry leaders intent on diagnosing the challenges hampering the sector’s growth and identifying sustainable solutions. The two-day discourse, led by some of the most influential voices in Ghana’s energy landscape, explored a wide range of issues highlighting the strategic steps necessary for industry transformation.
The Board Chair of COMAC, Mr. Gabriel Kumi, set the stage with an impassioned welcome address, underlining the need for proactive engagement among all industry players. He painted a picture of an industry at a crossroads, facing a complex web of regulatory bottlenecks, restrictive policies, operational hurdles, global price volatility, and financial constraints. Yet, even in the midst of these challenges, he stressed the vast opportunities for innovation, strategic partnerships, and policy recalibration to reposition Ghana’s downstream sector for a more resilient and prosperous future.
The significance of Ghana’s downstream oil and gas sector was further emphasised by the CEO of COMAC, Dr. Riverson Oppong, who provided compelling insights into its economic impact. Contributing approximately 8.5% to Ghana’s GDP in 2023, the sector plays a pivotal role in national development.
He identified key focus areas for discussion, ranging from price deregulation and petroleum taxation to the implementation of the LPG cylinder recirculation model and local content expansion. His vision extended to strengthening safety and environmental protections through innovative initiatives such as the “Mystery Shop” program.
The keynote address by the CEO of the National Petroleum Authority (NPA), Mr. Godwin Kudzo Tameklo, added another layer of depth to the discussion. He chronicled the NPA’s achievements over the past two decades, emphasising the establishment of a solid regulatory framework governing pricing, supply, and infrastructure quality. With a storage capacity of 1.9 million metric tonnes, a refinery capacity of 85,000 barrels per day, and a network of over 5,000 retail outlets, Ghana’s downstream sector is robust—but not without its pressing concerns.
Among the key issues he raised was the potential cessation of the zonalisation policy, a topic that sparked intense deliberation among stakeholders. He also outlined the upcoming legislative reforms under the new NPA Act, which aims to enhance efficiency and sustainability within the sector. With Ghana’s fuel demand surpassing 4 million metric tonnes annually, he stressed the necessity of strict adherence to industry standards and the importance of the NPA’s role in shaping a viable and competitive energy market. Underpinning all these initiatives, he assured, was a commitment to supporting President John Mahama’s vision of a sustainable and affordable downstream sector. As part of President Mahama’s 24-hour economic policy, he indicated that the National Petroleum Authority (NPA) is exploring various aspects of the downstream petroleum value chain, along with a comprehensive implementation plan to support the rollout of a 24-hour economy within the industry.
He stated that the initial phase may include deploying automated dispensers at selected petroleum retail outlets and implementing measures to ensure the continuous operation of bulk storage facilities and depots, among other initiatives.
The event reached a peak when the Special Guest of Honour, Hon. Dr. John Jinapor, Minister of Energy and Green Transition, took to the stage. His address was a mix of commendation, concern, and policy direction. He lauded COMAC for convening the dialogue at such a crucial time, reiterating the government’s commitment to strengthening the oil and gas industry. He underscored the sector’s tremendous growth, with petroleum consumption surging from 1,445 kilotonnes of oil equivalent in 2000 to an impressive 4,600 kilotonnes today.
However, he did not shy away from acknowledging the structural inefficiencies, regulatory hurdles, and market constraints that persist. More importantly, he viewed these as opportunities—challenges that, if met with the right policy reforms, could catalyse growth and stability. One of his standout proposals was the formation of a Petroleum Downstream Committee, a body tasked with overseeing crucial areas such as refining, distribution, marketing, and price formation.
The dialogue continued with a robust panel discussion on Policy Development and Regulatory Reforms: Enhancing Efficiency and Growth in the Downstream Petroleum Sector. A range of critical issues took center stage, including the implementation of current pricing mechanisms, challenges associated with forex accessibility for petroleum imports, and the feasibility of Ghana’s LPG cylinder recirculation model. The debate on zonalisation was particularly compelling, with strong arguments both for and against its continuation. Infrastructure deficits, taxation concerns, and private sector involvement in depot construction were also hotly debated, underscoring the urgent need for a comprehensive downstream infrastructure strategy.
Perhaps the most striking takeaway was the call for a Downstream Infrastructure Act, a policy designed to create a Downstream Infrastructure Fund aimed at addressing key investment gaps. The conversation made it evident that while Ghana has made significant strides in the sector, there is much work to be done to align policies with global best practices and ensure a stable, transparent, and investor-friendly environment.
Other panel discussions covered topics such as Promoting Local Content and Participation in the Downstream Petroleum Sector, Energy Transition in the Downstream Sector, Safety, Environmental, and Fuel Standards, as well as Industry and Banking Collaboration.
The event concluded with powerful closing remarks from key figures in the sector. The CEO of COMAC, Dr. Riverson Oppong, passionately urged OMCs to facilitate share acquisitions by interested investors, advocating for risk-sharing as the most effective pathway to financial resilience.
Following this, the Board Chair of COMAC, Mr. Gabriel Kumi, delivered an inspiring address, recognising the collective efforts of industry leaders, regulators, and stakeholders in shaping the discussions. He announced that a comprehensive white paper capturing the key insights and proposed solutions from the dialogue would be distributed to regulators and stakeholders, serving as a guiding document for policy and industry action.
As the curtains closed on the 2025 COMAC Downstream Dialogue, it was evident that the event had transcended traditional industry discussions, evolving into a strategic blueprint for the future. Stakeholders left with a renewed sense of purpose and a commitment to elevating Ghana’s downstream petroleum sector to global standards.
The discussions have set the stage for transformative reforms, and anticipation is already building for the 2026 edition, where the industry will reconvene to assess progress, confront new challenges, and drive further innovation.