NPA goes after roguish oil firms fines them GHC1.5 Million

As part of measures to sanitize the Downstream Petroleum Industry, the National Petroleum Authority (NPA) has imposed the following sanctions on Petroleum Service Providers engaged in illegalities by fining some seven Petroleum Service Providers (PSPs) an amount of GH¢ 1.5 million for various infractions.

The firms are; Maori Oil Company Ltd, Rodo Company Ltd, MBA Global Ltd, Cigo Energy Ltd, Torrid Global Ltd, Naddif Company Ltd and GAT Oil.

A statement issued by the NPA late Monday, May 23, said the firms were cited for engaging in illicit third party trading of petroleum products.

“The National Petroleum Authority (NPA) has taken notice of infractions by some Petroleum Service Providers (PSPs) who have engaged in illicit third-party trading of petroleum products and has accordingly applied the requisite sanctions”, the statement said warning any firm which fails to comply with its stipulated rules and guidelines will face sanctions.

The affected companies and accompanying sanctions are as follows:

1. That Moari Oil Co. Ltd pay a fine of GH¢50,000.00 comprising of GH¢10,000.00 for engaging in Third Party Supplies and GH¢40,000.00 for the unlawful lifting of petroleum products.
2. That Rodo Oil Co. Ltd pay a fine of GH¢350,000.00 comprising of GH¢10,000.00 for engaging in Third Party Supplies, GH¢340,000.00 for the unlawful lifting of petroleum products and a one (1) month suspension of operations.
3. That MBA Global Ltd pay a fine of GH¢85,000.00 comprising of GH¢ 10,000.00 for engaging in  Third Party Supplies, GH¢75,000.00 for the unlawful lifting of petroleum products and one (1) month suspension of operations.
4. That Cigo Energy Ltd pay a fine of GH¢245,000.00 comprising of GH¢10,000.00 for engaging in Third Party Supplies and GH¢235,000 for the unlawful lifting of petroleum products.
5. That Torrid Global Ltd pay a fine of GH¢550,000.00 comprising of GH¢ 10,000.00 for engaging in Third Party Supplies and GH¢540,000.00 for the unlawful lifting of petroleum products.
6. That Naddif Co. Ltd pay a fine of GH¢150,000.00 consisting of GH¢ 10,000.00 for engaging in Third Party Supplies, GH¢140,000.00 for the unlawful lifting of petroleum products and one (1) month suspension of operations.
7. That GAT Oil pay a fine of GH¢120,000.00 consisting of GH¢ 10,000.00 for engaging in Third Party Supplies, GH¢110,000.00 for the unlawful lifting of petroleum products and one (1) month suspension of operations.

“Any company that fails to comply with the rules and guidelines stipulated by the National Petroleum Authority will be subjected to appropriate sanctions.

Source: The Heraldghana