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GRA tells SML to resume monitoring operations in downstream petroleum sector

  Fri, 21 Jun 2024
Business & Finance GRA tells SML to resume monitoring operations in downstream petroleum sector
FRI, 21 JUN 2024 LISTEN

Ghana Revenue Authority (GRA) has directed the Strategic Mobilisation Limited (SML) to resume its monitoring operations of the Downstream Petroleum sector effective June 14, 2024.

The GRA in a statement dated June 12, 2024, to the Bulk Oil Distributors explained that the directive is in accordance with President Akufo-Addo’s directives on the KPMG report.

GRA in its statement said, “We wish to inform you that Strategic Mobilisation Limited (SML) has been directed to resume its monitoring operations of the Downstream Petroleum sector with effect from 14th June 2024 in accordance with the Presidential Directives on the KPMG report.

“SML is expected to ensure that all systems are fully operational and compliant with the relevant standards and regulations to deliver accurate, reliable and timely monitoring services to support our revenue assurance.

“The Bulk Oil Distributors are to cooperate to ensure a successful resumption of the monitoring exercise.”

However, the Ministry of Energy in a statement dated June 20, stated that in collaboration with the Ghana Standards Authority (GSA), the Ministry of Trade, industries and other relevant stakeholders, have developed new standards for measurements in the oil and gas sector based on the Singaporean Standard.

In view of this, the Energy Ministry has entreated persons and entities undertaking measurements for purposes of revenue assurances in the oil and gas sector to do so in accordance with the new standards.

“The Ghana Standards Authority (GSA), in collaboration with the Ministry of Energy, Ministry of Trade and Industries and other relevant stakeholders, has, based on the Singaporean Standard, developed new standards for measurements in the oil and gas sector which utilizes the Coriolis mass flow metering system.

“Subsequently, the Minister for Trade and Industry pursuant to Section 13 of the Ghana Standards Authority Act, 2022, Act 1078 has declared the standards operational and mandatory. In view of the foregoing, we wish to indicate that all persons and entities undertaking measurements for purposes of revenue assurances in the oil and gas sector are expected to do so in accordance with the new standards.”

President Akufo-Addo commissioned KPMG on January 2 to audit the contract between the GRA and SML.

Following the submission of its report to the president, KPMG revealed that SML received a total of GH¢1,061,054,778.00 from 2018 to the present.

The report indicated that SML was paid GH¢454,860,396.27 (gross) for transaction audit and external price verification payments and GH¢945,342,007.29 (gross) for downstream petroleum measurement payments.

The KPMG report, which was commissioned to scrutinise the terms and implications of the agreement, provides an in-depth analysis of the partnership aimed at enhancing revenue collection in Ghana.

The contract with SML was intended to leverage advanced technological solutions to streamline tax collection processes, reduce leakages, and increase overall efficiency in the operations of GRA.

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