Increasing refinery capacities and deepening intra-Africa trade for oil and petrochemical products are two key measures for creating wealth for now and the future of the continent, Deputy Minister of Energy, Dr. Mohammed Amin Adam, has said.
He said, in efforts to boost economic growth in the oil and gas industry in Ghana and the continent, it is necessary to maximize refinery capacities through diversification and utilization to create wealth especially as the future of the space is uncertain.
Speaking at the eight edition of the annual Ghana Oil and Gas Awards, which came off in Accra recently, Dr. Adam said that the sector can maximize benefits by trading internally (intra-Africa Trade) as oil trade among Africans is as low as about five percent.
“We should mobilise resources to trade among ourselves as Africans. We need to build our refinery capacities. This will enable us to create wealth together for now and in the future. We can transform our oil into petrochemicals that are needed everywhere in the world. Currently, the International Energy Agency estimated that in 2030, petrochemicals will account for a third of global demand for oil and by 2050 it will account for half,” he said.
In view of that, he said the energy ministry is working to reposition the country to diversify the industry and harness the benefit of the oil and gas resources, adding that government’s move to establish a petroleum hub is a step in the right direction to aid sector and economy growth.
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“We need to be mindful that the future of our industry is uncertain. We are working so hard to reposition our country to maximize the benefits of our oil and gas resources. We are convinced that we will continue to produce oil but not hurt the environment, I urge you to talk to your investors abroad to invest here in Ghana by building refineries,” he said.
The awards ceremony, organised by Xodus Communications in partnership with the Ministry of Energy, is aimed at rewarding those who have played a defining role in the oil and gas sector. It also celebrates the advances made in the key areas of environmental stewardship, efficiency, innovation, leadership, Corporate Social responsibility, and health and safety.
Dr. Adam said the award scheme will offer a perfect opportunity to raise the profiles of stakeholders in the industry as well as encourage them to do more. The move, he stressed, will increase the visibility of stakeholders with a professional audience. He congratulated awardees and admonished them to help invest more in the space to retain and create job opportunities.
Chief Executive Officer of Chamber of Bulk Oil Distributors, Senyo Hosi, also urged sector players to be optimistic of and optimize opportunities within the Oil and Gas space.
Winners of the 2021 Ghana Oil and Gas Award:
- Entrepreneur of the Year 2021
James Kwoku Ahiadome – J.K Ahiadome Transport & Company Limited
- Oil And Gas Personality of the Year 2021
S.N Dowuona Owoo – Adonai Shipping Limited
- Oil And Gas Service Company of the Year – Offshore Service 2021
Adonai Shipping Limited
- Oil And Gas Service Company of the Year – Bunkering 2021
AI Energy Group
- Oil And Gas Service Company of the Year – Gas 2021
Ghana National Gas Company
- Policy Activist of the Year 2021
Africa Center for Energy Policy
- Bulk Distributing Company of the Year 2021
Blue Oceans Investments
- Lubricant Product of the Year 2021
Petrosol Ghana Limited (Petrosol Platinum Lubricants)
- Brand of the Year (Upstream) 2021
Tullow Ghana Limited
- Brand of the Year (Downstream) 2021
Juwel Energy
- Marketing Campaign of the Year 2021
Total Petroleum Ghana Plc
- Oil And Gas Insurer of the Year 2021
Star Assurance Company Limited
- Oil And Gas Logistics Company Limited 2021
Adonai Shipping Limited
- Haulage Company of the Year 2021
J.K Horgle Transport & Co Ltd
- Local Content Initiative Award 2021
Tullow Ghana Limited
- Promising Oil and Gas Company of the Year 2021
Rigworld Training Centre
- Oil Marketing Company of the Year 2021
Total Petroleum Ghana Plc
- LPG Marketing Company of the Year 2021
Andev Company Limited
- Depot of the Year 2021
Tema Tank Farm Limited
- Emerging Brand of the Year 2021
Kodson Plus Company Limited
- Petroleum Retailer/ Dealer of the Year 2021
Aretha Bakers Woode – Bethel Construction & Trading Enterprise
- CEO of the Year – (Upstream) 2021
Dr Ben K.D Asante – Ghana National Gas Company
- CEO of the Year – (Downstream)
Andrews Owusu-Baafi – Andev Company Limited
- Excellence in Health, Safety, Environment and Quality- (Upstream)
Technipfmc Ghana Limited
- Excellence in Health, Safety, Environment and Quality – (Downstream)
Kodson Plus Company Limited
- Engineering and Construction Company of the Year – (Upstream)
Technipfmc Ghana Limited
- Engineering and Construction Company of the Year – (Downstream)
Meridian Logistics and Engineering Limited
- Excellence In Corporate Social Responsibility – (Downstream)
J.K Horgle Transport And Company Limited
- Excellence in Corporate Social Responsibility – (Upstream)
Eni Ghana Exploration and Production Limited
- Indigenous Oil and Gas Company of the Year – (Downstream)
Gaso Petroleum Limited
- Best Growing Oil & Gas Company of the Year – (Downstream)
Gaso Petroleum Limited
- Ghana Oil and Gas Awards Hall of Fame 2021
Goil Company Limited
- Ghana Oil and Gas Awards Hall of Fame 2021
Vivo Ghana-Shell Licencee
- Ghana Oil and Gas Awards Hall of Fame 2021
Total Energies
- Lubricant Product of the Year
Total Quartz
- Bulk Distributing Company of the Year
Juwel Energy
Special Recognition
- Leadership Excellence Award 2021
Charles Addo, Meridian Logistics and Engineering Limited
- Excellence in Drilling & Exploration 2021
Eni Ghana Exploration and Production Limited
- Woman of Excellence Award 2021
Abigail Asolange Harlley, AI Energy
- Oil And Gas Financial Service Provider of the Year
Prudential Bank Limited
Honourary Award
- Leadership in Government Policy and Advocacy
Dr Mohammed Amin Adam
