Why is GNPC Chairman writing letters to PetroSA when CEO should? – Armah Kofi Buah asks


The Deputy Minority Leader in Parliament has questioned the powers of the Board Chairman of the Ghana National Petroleum Corporation (GNPC) in offering PetroSA an equal split in the interest held by GNPC’s subsidiary Jubilee Oil Holdings Ltd.

Armah Kofi Buah said Freddie Blay is not an executive chairman and does not have the powers to engage in such activities. 

The former Energy Minister said there is no board approval for the move the board chairman attempted to undertake. 

Speaking on JoyNews’ Newfile on Saturday, May 26, the Ellembelle MP thus berated Mr Freddie Blay for his conduct. 

“The chairman is not able to explain why there is a 50/50 agreement. In any event, we have not also seen a board approval of this decision.”

“Why is it that it is the GNPC board chairman the one writing the letter? Is he the Executive Chairman? Why is it not the CEO the one writing the letter? In any event, why is he writing the letter in direct disregard to the Minister of Energy’s directive? But what is the most important for the majority of us is the GNPC and its mandate,” he said. 

Already, some 29 Civil Society Organisations (CSOs) have also demanded the removal of the two. 

The CSOs, made up of the Africa Centre for Energy Policy (ACEP), Centre for Democratic Development (CDD-Ghana), the Chamber of Petroleum Consumers Ghana (COPEC) and 26 others, say the two men have “become a threat to Ghana’s interest in the petroleum sector.”

In a statement endorsed by representatives from all 29 CSOs and sighted by JoyNews, the coalition argued that a country being micromanaged by the IMF cannot be seen to be engaging in fiscal recklessness.

The group is also demanding complete information on the AFC transaction and the actual amount that would constitute petroleum cost and the immediate closure of the Aker PoD from the Petroleum Commission and Government.”

Meanwhile, Freddie Blay has denied any wrongdoing in offering interest in Ghana’s oil fields to a South African oil company. 

He said he acted in the best interest of the country. 

According to the former National Chairman of the New Patriotic Party, he exercised good judgment in the matter. 

He thus did not see any reason for demands for his resignation. 

“Possibly, I could be fired, but I don’t see any reason why they are saying I should resign about this issue. I have done nothing wrong. 

“I have observed my conscience and I thought I was protecting the interest of the country, and I am convinced about it and if others think otherwise, and if those who appointed me are saying otherwise, then so be it,” he said in an interview with Citi FM on Tuesday, May 23. 

Mr Blay also revealed that he has spoken to President Akufo-Addo about the matter and he does not expect to be fired. 

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