James Gooder, Vice-President of Crude at Argus Media, says Ghana oil export growth is strengthening the country’s economy while supporting wider energy market reforms across West Africa.
Speaking in an interview with SweetFM Online during the Argus West Africa Oil Markets Forum held in Accra, Gooder noted that Ghana is steadily becoming an important crude exporter in the region.
According to him, the revenue generated from oil exports is not simply leaving the country but is being reinvested into national development.
“Ghana is becoming a significant oil exporter, and that money is being invested back in the country. Ghana has a good system for making sure that its oil wealth is shared.” - James Gooder, Vice-President of Crude at Argus Media
The forum brought together industry leaders, policymakers, traders, and market participants from across West Africa to examine the changing trade patterns in oil products and liquefied petroleum gas (LPG) markets.
Infrastructure Investment and Market Expansion
Gooder pointed to ongoing investments in energy infrastructure as evidence of the benefits from Ghana’s growing petroleum sector.
He explained that discussions at the forum highlighted new import capacity, expanded energy infrastructure, and increased investment aimed at supporting a cleaner energy transition.
“We’re seeing the investment and improvements in infrastructure.
"We’ve been hearing at the conference about more investment, more import capacity and growing markets for cleaner transition fuels.” - James Gooder, Vice-President of Crude at Argus Media
These developments are helping position Ghana as a more active participant in regional energy trade rather than simply a destination for imported refined products.
Industry observers at the conference suggested that stronger infrastructure and refining capabilities could enable the country to serve as an important supply hub for neighbouring states.
Local LPG Production Boosting Public Health
Another major shift highlighted at the forum is Ghana’s increasing domestic production of LPG, which Gooder described as a significant step toward improving energy access and public health.
“Ghana is now producing its own LPG. LPG is a cleaner fuel than many cooking fuels historically used in Ghana and this part of Africa.” - James Gooder, Vice-President of Crude at Argus Media
He explained that wider access to LPG can reduce dependence on traditional fuels such as charcoal and firewood, which often contribute to indoor air pollution and health complications. Producing LPG locally also means the country retains more revenue within its economy.
Push for Transparency in West African Energy Markets
Beyond production and infrastructure, the forum also focused heavily on improving transparency in regional fuel pricing systems. Gooder said his organisation has spent years working to improve market clarity in West Africa.
“Our company has been working to increase transparency in markets for oil products, LPG and gasoline in particular,” he explained.
He added that the goal is to ensure consumers across West Africa are connected to global price benchmarks in a way that promotes fairness.
“People want more transparency. They want fairness in pricing and they want to understand how prices are formed.” - James Gooder, Vice-President of Crude at Argus Media
According to him, the combination of new refining capacity, rising production, and expanding consumption suggests West Africa is gradually evolving into a mature energy marketplace.
“We’re reaching a point where this is becoming a market rather than just a receiver of goods from elsewhere,” he concluded.
The forum attracted participants from across the region, including stakeholders from Ghana and Nigeria, highlighting growing collaboration in shaping the future of West Africa’s energy sector.
READ ALSO: NPA Assures Public of Adequate Fuel Stocks in Ghana
