Dr Brima Mohamed Baluwa Koroma, DG, NPRA, now appointed VC World Petroleum Council. Photo credit: https://sierraloaded.sl
Abubakar Hashim
Dr Brima Mohamed Baluwa Koroma, Director General, Sierra Leone’s National Petroleum Regulatory Authority, NPRA, has been appointed the new Vice Chairman, technical programs, at the 25th congress of the World Petroleum Congress, with the theme, “Pathways to an Energy Future for All”.
Together with the Chair and Co Chair, Baluwa will be responsible for pipeline storage and strategic petroleum reserves.
More precisely, Baluwa will be tasked to examine and ensure advancements in pipeline technology, storage solutions and significance of strategic petroleum reserves, SPS, in mitigating supply disruptions
Baluwa will fly the flag of Sierra Leone at the world petroleum council, headed by its female CEO, Burcu Canci Gunai.
Having served as Chief Finance Officer, CFO, at Safecon Petroleum SL Limited, Director, Fixed Income Sales, China Standard Bank, China Limited, Director, Global Corporate Sales, Hong Kong Standard Standard Bank, Dr Baluwa Koroma was first appointed as DG, NPRA in 2018 by President Julius Maada Bio, with his appointment extended in 2024, due to his sterling qualities and numerous reforms in the industry.
He took up appointment during challenging moments with low investor confidence.
He opened up the market, that used to be dominated by only two players- National Petroleum NP and Leone Oil.
Today, more strategic players like Aminata, Malador, All Petroleum Products, others, are on board, serving as oil marketing companies OMCs.
There are now two petroleum jetties, for ease of berthing and offloading of big vessels.
He has also increased the number of gas stations to over 300, with strict safety and compliance criteria
Baluwa has also enabled his country to be on the PLATTS platform, a global base that monitors daily operations and prices of petroleum products. This has ensured stability of supply and prices, beefed up revenue from 4.6 billion leones in 2018 to 800 billion leones in 2023, about 12% of the country’s domestic revenue
Baluwa’s new global position, apart from enhancing pipeline safety, will also include optimising storage capacity and global market stabilisation
His contribution to a resilient energy system within a dynamic global energy security and market stability, is the main criterion for his new appointment as Vice Chair of World Petroleum Council, leveraging on his unparalleled sound leadership in the downstream petroleum sector in Sierra Leone.
Sierra Leone now sits in current geopolitical relevance by this new appointment. It is crucially significant in the preservation of global energy security.