AOMC CEO ENGAGES WITH PETROLEUM HUB DEVELOPMENT CORPORATION (PHDC)

On May 23, 2024, Dr. Riverson Oppong, CEO of the Association of Oil Marketing Companies (AOMC), along with designated AOMC staff, visited the Petroleum Hub Development Corporation (PHDC) to acknowledge their significance in the industry and explore potential areas for collaboration.

The visit commenced with brief introductions, followed by a presentation from the PHDC team on their organization’s activities, strategic initiatives, and the progress of the Petroleum Hub Project. This project was established under the Petroleum Hub Development Act, 2020 (Act 1053) by the Government of Ghana.

Dr. Riverson Oppong highlighted the importance of technology, geopolitics, and the expected rise in energy demand, emphasizing that economic conditions significantly influence this demand. He recommended that PHDC dialogue with their stakeholders to set appropriate policies and ensure further engagement. Additionally, Dr. Oppong encouraged PHDC to initiate their projects with the resources currently available while awaiting larger funding. During the meeting, questions and concerns from Zoom participants were addressed, and attendees were encouraged to contribute and ask questions. Discussions on potential areas of collaboration included infrastructure development, sustainability initiatives, market expansion, training, and research.

The PHDC, a state-owned enterprise, was established to fulfill the vision of President H. E. Nana Addo Dankwa Akufo-Addo to develop a modern, diversified, efficient, and financially sustainable “energy economy”.Since the Corporation’s establishment in September 2021, the management has set a strategic direction focused on attracting investors for the Petroleum Hub Project. They are currently working with investment partners to establish Africa’s first petroleum and petrochemical hub in the Jomoro Municipality.