Ghana: Licenses of 30 OMCs revoked for non-compliance

The National Petroleum Authority (NPA) has revoked the licenses of 30 Oil Marketing Companies (OMCs) for non-compliance with the rules and regulations of the Authority on the acquisition and maintenance of the licenses.

The affected companies are Abagurugu Oil Company Limited; Apex Petroleum Ghana Limited; Avos Oil Company Limited; Best Petroleum Limited; Bisvel Petroleum Services; Capstone Oil Limited; Deep Petroleum Limited; Deliman & Company Ltd.; Glee Oil Limited, and Golden Petroleum Limited.

Others are Green Petroleum Limited; Hak Oil Company Limited; Havilah Oil Ghana Limited; Hossana Oil Company Limited; Jas Petroleum Limited; Lilygold Energy Resources Limited; M3 Global Company Limited; Maiga & Hhm Company Limited; Mba Global Petroleum Limited, and Peta Energy Limited.
The rest are Petro Afrique Ghana Limited; Precious Energy Ghana Limited; Q8 Oil (Gh.) Company Limited; Rigworld Petroleum Services Limited; Royal Roses Oil Company Limited; Titan Petroleum Limited; Union Oil Ghana Limited; Universal Oil Company Limited; Warren Oil Company Limited, and Zoe Petroleum Limited.

A statement from NPA and copied to the Ghana News Agency in Accra on Thursday said an earlier meeting with the Board members of the Association of Oil Marketing Companies (AOMCs), the Chief Executive of the NPA, Dr. Mustapha Abdul-Hamid, cautioned that the Authority would not hesitate to revoke the licenses of industry players who flouted the rules.

It said over the years, the NPA had been lenient with industry players who flouted the rules, which had given opportunity for many more to flout the rules with impunity.

“We cannot all be in a conspiracy to run down our country and yet turn round to and blame the government for what goes wrong”, Dr. Abdul-Hamid was quoted as saying at the meeting with Board members.

He told the oil marketers that it was in their own interest that the market was regulated properly, because if the industry collapsed their businesses would collapse.

Source: newsghana.com.gh