Norwegian practice has largely permeated virtually every aspect of Ghana's oil industry. Extrapolation from Norway has been a step in the right direction as Norway is largely credited with adopting best industry practices in the management of its oil industry. Ghana's regulatory framework has evolved to resemble Norway's. Whilst not all this similarity is by design, that which is not has been reinforced by Norwegian practice. Norway's transparent and effective control of the industry by the Executive affords subordination of the industry's regulatory body to a powerful Ministry, which arrangement is counter-balanced by effective Parliamentary oversight. I posit that in the case of Ghana, the absence of transparency, effective checks and balances in the governmental framework coupled with the potential for rampant abuse of discretionary power, necessitates that real regulatory power is vested not in the Ministry but in a strong, independent regulatory body that exerts proper control over the operations of the oil companies. Though the Executive should naturally be the driving force behind policy and ordering of developments in the industry, the regulatory body must be vested with the necessary independence and powers to effectively regulate operations in the industry devoid of Executive interference and control.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:633280 |
| Date | January 2014 |
| Creators | Stephens, Thomas Kojo |
| Publisher | University of Aberdeen |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
| Source | http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=215548 |
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