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RADP / Pulse Ghana  >  news  >  business

ACEP bemoans absence of punitive measure in Petroleum Act

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ACEP believes clear punitive measures should have been spelt out by the Petroleum Exploration and Production Act 2016.

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The conflict of interest provision prohibits any public officer involved in the implementation of the act from, himself or herself, possessing a petroleum right or an interest in a petroleum right.

“We are however worried that an important provision relating to penalty for conflict of interest of public officers has not been incorporated in the Act despite many calls for it.

In Liberia’s Petroleum Act 2014, a conflict of interest and penalty clause reads ‘An officer in the public service engaged in the implementation of this Act shall not, in his or her private capacity, knowingly, directly or indirectly, acquire, attempt to acquire or hold:

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(a) a petroleum right or an interest in a petroleum right;

(b) a direct or indirect economic interest, participation interest or share in an entity that is authorized under this Act to carry out petroleum right in Liberia;

or (c) a direct or indirect economic interest, participation interest or share in a company that is providing goods or services to a holder of a petroleum right under this Act. A person who contravenes this commits an offence and is liable on conviction to a fine not exceeding fifty thousand US dollars or imprisonment not exceeding five years or both,’” ACEP said in a release.

READ MORE: Power Generation ACEP urges review of Early Power agreement

However, the think tank says it will continue to campaign for the provision on conflict of interest to eventually reflect in future amendments to the Act.

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“We believe strongly that it will deter the complicity of rent seeking public officials from undermining the good governance principles in the Act,” ACEP stated.

The bill was first laid before Parliament in 2012 but years of stakeholder consultations delayed its passage.

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