NPA Fines Seven OMCs over GHC600k Millions for various Infractions
According to the NPA in a statement dated October 12, 2023, it had implemented the necessary sanctions and that the penalized businesses will pay fines ranging from GHS20,000 to GHS665,000.
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The National Petroleum Authority (NPA) has imposed sanctions on seven Oil Marketing Companies (OMCs) for breaking industry rules in an effort to regulate the distribution of petroleum products in Ghana.
The distribution of petroleum products by the concerned companies was shown to have involved illegal activity,
According to the NPA in a statement dated October 12, 2023, it had implemented the necessary sanctions and that the penalized businesses will pay fines ranging from GHS20,000 to GHS665,000.
The companies’ operations will be suspended for three months if they don’t pay the fine and adhere to industry norms.
Sanctions have been imposed on Andev Co. Ltd, Beap Energy, BF Petroleum, Anasset Co. Ltd, Cost Energy, Compass Oleum Ltd, and Concord Oil Ltd. These seven businesses are also affected.
They have all been charged with breaking the NPA’s rules; some companies are suspected of removing petroleum goods without cross-zonal permission, while others are charged with third-party supply.
Source: Metrotvonline
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