Shareholders have been advised to improve the safety and standards in the industry
In a bid to curb the recent fire outbreaks and accidents in the industry, the National Petroleum Authority (NPA) has urged all stakeholders in the downstream fuel industry to ensure maximum safety in their operations. Industry players have been called on to collectively work together to improve the safety and standards in the industry.
Mr. Samuel Asare-Bediako, the Coordinator of the Unified Petroleum Price Fund (UPPF) at the NPA, said “This year, the authority is placing emphasis on safety and is, therefore, embarking on a National Petroleum Safety Campaign.”
“Safety First, People First”, which will be the theme for the campaign is designed to sensitize the fuel service providers and the general public towards collective responsibility for safety. The campaign will include the launch of a safety day, roadshows and workshops for stakeholders, the media, motorists and the general public.
There has been a significant increase in the number of industry players in the sector, especially the Fuel Marketing Companies due to the deregulation of the sector. Bulk Distribution Companies had increased in number from four in 2005 to 30, as of September 2016.
Issues have been raised about the NPA being able to effectively regulate the increasing market, even though the strong growth is good for customers and the economy in general due to increased competition.
Mr Asare-Bediako said, “This has also led them to provide quality products and services to their customers and this is evident by the increasing number of types of differentiated fuel products, as well as lubricants offered for sale to the general public. As a national regulatory body, it is our responsibility to ensure that the downstream industry remains efficient, profitable and fair, and see to it that consumers receive value for money. In doing so, we conduct investigations into standards and quality of fuel-related products intended for the market.” PWKD19052017