GhIPCon 2026: CBOD CEO Calls for Policy Stability, Innovation and Investment to Build Resilient Downstream Petroleum Sector

The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors (CBOD), Dr. Patrick Kwaku Ofori, has called for stronger policy consistency, technological innovation and sustained investment to build a resilient downstream petroleum sector capable of driving Ghana’s economic transformation.Speaking at the opening of the 7th Ghana International Petroleum Conference (GhIPCon 2026), held under the theme “Building a Resilient Downstream: Policy, Innovation, and Investment for Growth,” Dr. Ofori said the downstream petroleum industry remains a critical pillar of the country’s economy, powering industries, supporting agriculture, facilitating healthcare delivery and enabling trade across Ghana.He welcomed President John Dramani Mahama to the conference and commended the government for prioritising the energy sector. He also praised the Minister for Energy and Green Transition for providing leadership aimed at strengthening the sector and creating an environment that encourages investment and innovation.According to Dr. Ofori, recent geopolitical tensions, supply chain disruptions and shifts in global energy markets have highlighted the urgent need for Ghana to build a more resilient downstream petroleum industry.”Resilience is no longer simply about responding to crises. It is about anticipating them, preparing for them, adapting to them and emerging stronger because of them,” he stated.He stressed that achieving resilience requires action in three key areas—policy, innovation and investment.On policy, Dr. Ofori noted that investors require certainty and predictable regulatory frameworks to commit long-term capital. He said stable and transparent policies would promote healthy competition, protect consumers and create confidence for businesses to expand.He also underscored the growing importance of innovation, describing it as a business necessity rather than a competitive advantage. He said digital technologies, automation, predictive analytics, artificial intelligence and cleaner technologies are transforming the downstream petroleum industry by improving efficiency, enhancing safety, reducing operational costs and supporting better decision-making.Dr. Ofori further called for increased investment in strategic petroleum infrastructure, including modern storage facilities, strategic petroleum reserves, local refining capacity, transport corridors and road networks linking ports, depots and markets.According to him, such investments would improve supply reliability, reduce logistics costs, create employment opportunities, stimulate industrialisation and strengthen Ghana’s energy security.Looking beyond the domestic market, the CBOD CEO said Ghana should position itself as the leading downstream petroleum and logistics hub in West Africa through strong collaboration between government and the private sector.He also urged industry players to embrace sustainability, insisting that economic growth and environmental responsibility can be pursued simultaneously through cleaner fuels, lower-emission technologies, improved operational practices and responsible investments that support Ghana’s energy transition agenda.Dr. Ofori reaffirmed CBOD’s commitment to working closely with government, regulators, development partners and other stakeholders to strengthen the downstream petroleum sector.He encouraged participants to use the two-day conference not only to exchange ideas but also to develop practical solutions, shape policy, strengthen partnerships and attract investments that will secure the future of Ghana’s downstream petroleum industry.”The future of Ghana’s downstream petroleum industry will not be shaped by circumstance. It will be shaped by the decisions we make, the partnerships we build, and the investments we choose to make today,” he said.He expressed appreciation to the conference sponsors, partners, exhibitors, speakers and delegates for supporting GhIPCon 2026, urging stakeholders to work together to build a resilient, innovative and investment-friendly downstream petroleum sector capable of powering Ghana’s economic growth for generations to come