Strategic Mobilisation Limited (SML), has been directed by the Ghana Revenue Authority (GRA) to restart its monitoring activities in the downstream petroleum sector effective June 14, 2024.
This comes after an audit by the KPMG into the controversial deal commissioned by President Akufo-Addo, concluded that SML contracts had breached many laws, including the Public Financial Management Act. The report said the multi-year contracts should go through Parliament for approval.
The latest decision, announced in a GRA statement dated June 12, 2024, was conveyed to Bulk Oil Distributors and aligns with directives from President Akufo-Addo following the comprehensive KPMG report.
The GRA’s statement highlights the necessity for SML to ensure that all systems are fully functional and in compliance with relevant standards and regulations.
This move aims to provide accurate, reliable, and timely monitoring services to bolster revenue assurance. The Bulk Oil Distributors are expected to cooperate to facilitate the effective resumption of these monitoring operations.
“We inform you that Strategic Mobilisation Limited (SML) is directed to resume its monitoring operations in the Downstream Petroleum sector effective June 14, 2024, as per the Presidential Directives on the KPMG report. SML must ensure all systems are fully operational and comply with relevant standards and regulations to provide accurate, reliable, and timely monitoring services to support our revenue assurance. The Bulk Oil Distributors must cooperate to ensure a successful resumption of the monitoring exercise,” read parts of the statement.

In addition, the Ministry of Energy, in a June 20 statement, announced the development of new measurement standards for the oil and gas sector in collaboration with the Ghana Standards Authority (GSA), the Ministry of Trade and Industry, and other relevant stakeholders.

These new standards are based on the Singaporean Standard and utilize the Coriolis mass flow metering system.
“The GSA, in collaboration with the Ministry of Energy, the Ministry of Trade and Industry, and other stakeholders, has developed new standards for measurements in the oil and gas sector, based on the Singaporean Standard, utilizing the Coriolis mass flow metering system. The Minister for Trade and Industry, under Section 13 of the Ghana Standards Authority Act, 2022, Act 1078, has declared these standards operational and mandatory. All entities undertaking measurements for revenue assurance in the oil and gas sector must adhere to the new standards,” the Ministry noted.
The directive for SML’s operational resumption and the introduction of new measurement standards follow President Akufo-Addo’s commissioning of KPMG on January 2 to audit the contract between the GRA and SML.
The KPMG report revealed significant financial details, noting that SML received a total of GH¢1,061,054,778.00 from 2018 to the present.
This includes GH¢454,860,396.27 for transaction audit and external price verification payments and GH¢945,342,007.29 for downstream petroleum measurement payments.
The report provides an in-depth analysis of the partnership, aimed at enhancing revenue collection in Ghana through advanced technological solutions, reducing leakages, and increasing overall efficiency in the GRA’s operations.
Latest Stories
-
US senator dragged out of LA immigration news conference
19 minutes -
US orders 500,000 citizens of four countries to leave
30 minutes -
Republic Day must be protected: A nation must not forget its true birth
39 minutes -
Passion to Pouring: First luxury cocktail and music tasting experience debuts in Ho
50 minutes -
Volta Okada Riders Association charts path for stronger leadership and legal recognition
60 minutes -
Zoomlion contract: We don’t need a middleman – Manasseh urges assemblies to take control of sanitation
1 hour -
RFK Jr appoints new US vaccine advisers after sacking committee
1 hour -
Youth group urge Ghana Water Company to commission Damongo Water Project, condemns partisan delays
1 hour -
Let’s be global leaders: GEXIM boss, Sylvester Mensah, rallies Ghanaian exporters at Horticulture Expo 2025
1 hour -
MahamaCares: Senior management of Ghana EXIM Bank contributes GH₵450,000 to the Fund
2 hours -
Has the BECE lost its relevance?
2 hours -
Missed by Minutes: passenger recounts emotional escape after deadly Air India crash in Ahmedabad
2 hours -
UN names first ocean restoration flagships, aims to revive marine ecosystems across 3 continents
2 hours -
Zoomlion contract: People should be jailed, but there’s a lack of political will – Manasseh Azure
3 hours -
IAEA board declares Iran is in nuclear breach
4 hours