OIL & GAS

Indian Oil signs MoU with Ghana oil regulator for assistance in LPG programme

Indian Oil Corporation (IOC) today signed a Memorandum of Understanding (MoU) with Ghana’s oil regulator – National Petroleum Authority – for providing assistance and technical expertise in the implementation of that nation’s National LPG Promotion Policy.

The MoU was signed in New Delhi in the presence of oil minister Dharmendra Pradhan and Michael Aaron, High Commissioner of Ghana.

“The purpose of this Memorandum of Understanding (MoU) is to strengthen cooperation between the Parties in the field of Petroleum in particular LPG by which Indian Oil would support the NPA on the successful implementation of the Re-circulation Model (CRM) of LPG,” the company said in a statement.

IOC will assist Ghana’s oil regulator to develop the whole LPG value chain including licensing, legal framework, development of economics for LPG bottling plant, pricing structure, and communication strategy.

The MoU also provides for administrative assistance to Indian Oil in case it decides to participate as a commercial participant in Ghana’s downstream petroleum sector.

Source
ET Energy World
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