Ebenezer Faulkner is Vivo Energy Ghana Managing Director
The Member of Parliament (MP) for Obuasi West, Kwaku Kwateng is demanding an immediate halt in the operations of Vivo Energy Ghana.
According Mr. Kwateng, Vivo Energy, formerly Shell Petroleum is still operating in Ghana despite the expiration of its license.
Kwaku Kwateng has filed an urgent question in Parliament to demand answers from the Energy Minister as to why Vivo Energy is still operating in Ghana
The National Petroleum Authority (NPA) in May 2013 approved the takeover of Shell Petroleum Ghana by Vivo Energy to operate in Ghana’s downstream petroleum sector.
The NPA however gave the condition that within a period of 60 day, Vivi Energy was to give up some of its shares to indigenous Ghanaians.
The condition which was agreed to by Vivo Energy was aimed at increasing the percentage of Ghanaian investment in the company to 25.
But the company is yet to satisfy the conditions.
Based on this, Kwaku Kwateng is insisting that “by now, they should have scaled up the indigenous Ghanaian ownership in their business.”
He said Vivo Energy’s refusal to satisfy the conditions “makes their continued operations illegal.”
The New Patriotic Party (NPP) MP is demanding that not only must the NPA not renew their license; it should be close down the company “because they have not complied with those regulatory requirements.”
“It is to these matters that I think the Minister for Energy and Petroleum must come to Parliament and answer,” he fumed.
By: citifmonline.com/Ghana
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