Bedzrah signals October review of dollar payments for local crude

Chairman of Parliament’s Select Committee on Energy, Emmanuel Kwasi Bedzrah, has said the committee will review the foreign currency payment arrangement for locally sourced crude oil when Parliament resumes in October.

His comments follow concerns raised by Sentuo Oil Refinery over the impact of the current payment system on domestic refining operations.

He said the review would examine the challenges facing local refineries, particularly the use of foreign currency to purchase crude oil while refined petroleum products are sold on the domestic market in Ghana cedis.

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Bedzrah made the remarks during a visit by members of the committee to Sentuo Oil Refinery in Tema on Tuesday, September 22, 2026, to assess its operations and contribution to Ghana’s downstream petroleum sector.

He said the proposed review would be considered alongside changes to the National Petroleum Authority legislation and the Petroleum Revenue Management legislation, including the treatment of locally produced petroleum products sold on the domestic market.

The committee chairman said the discussions were necessary to address concerns about the sustainability of local refining and the challenges created by the existing payment arrangements.

Bedzrah also commended Sentuo for investing in Ghana’s refining capacity, creating jobs and supporting efforts to reduce the country’s dependence on imported refined petroleum products.

“The committee would consider the issues raised during the visit as part of efforts to strengthen the petroleum sector and support domestic refining,” he said.

The planned October review is expected to provide an opportunity to examine how crude payment arrangements can be aligned with the needs of local refineries and the wider economy.

ANAS/MA

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