The National Petroleum Authority (NPA) has sanctioned seven Petroleum Products Marketing Companies (PPMCs) for illicit distribution of petroleum products.
According to the Authority, these OMCs are to pay fines for violating the Unified Petroleum Pricing Fund (UPPF) regulations, making false UPPF representations to the Authority, and engaging in third-party supplies.
“The National Petroleum Authority (NPA) has taken notice of the violations of industry regulations by some petroleum products marketing companies (PPMC) who have engaged illicit practices in the distribution of petroleum products and have accordingly applied the requisite sanctions.”
National Petroleum Authority
In the case of Andev Co. Ltd, it has been tasked to pay a total fine of GHS90,000.00, which comprises GHS10,000.00 for violating UPPF regulations and GHS10,000.00 each for eight (8) counts of making false UPPF representations to the Authority.
The Authority stated that failure to comply will lead to three months of suspension of its operations.
Beap Energy, on the other hand is to pay a total fine of GHS20,000.00, comprising GHS10,000.00 for violating UPPF regulations and GHS5,000.00 each for two (2) counts of third-party supplies, “failure to comply will lead to three months of suspension of their operations”.
Furthermore, the NPA noted that BF Petroleum, has been slapped with a total fine of GHS95,000.00. This constitutes GHS10,000.00 for violating UPPF regulations, GHS5,000.00 each for ten (10) counts of third-party supplies.
Additionally, the company is to cough up some GHS5,000.00 each for seven (7) counts of lifting petroleum products without cross-zonal authorization, and failure to comply will lead equally to three months of suspension of their operations.
“Anasset Co. Ltd is to pay a total fine of GHS50,000.00. This comprises GHS10,000.00 for violating UPPF regulations, GHS10,000.00 each for four (4) counts of making false UPPF representations to the Authority. Failure to comply will lead to three months of suspension of their operations.”
National Petroleum Authority
Further sanctions on failure to comply with NPA
Moreover, Cost Energy, also implicated in the illicit distribution of petroleum product is expected to pay a total fine of GHS 665,000.00, comprising GHS10,000.00 for engaging in third-party supplies.
Additionally, the NPA has demanded some GHS5,000.00 each for one hundred and thirty-one counts of third-party supplies from the company, noting that failure to comply will lead to three months of suspension of its operations.
“Compass Oleum Ltd should pay a total fine of GHS350,000.00. This constitutes GHS10,000.00 for violating UPPF regulations, GHS5,000.00 each for fifteen (15) counts of lifting petroleum products without cross zonal authorization and GHS,5000.00 each for fifty-three (53) counts of engaging in Third Party supplies. Failure to comply will lead to three months of suspension of their operations.”
National Petroleum Authority
Similarly, Concord Oil Ltd has been slapped with a total fine of GHS65,000.00. This, the NPA stated, constitutes some GHS10,000.00 for violating UPPF regulations, GHS5,000.00 each for four (4) counts of engaging in third-party supplies.
Also, the company must pay GHS5,000.00 each for seven counts of lifting Petroleum products without cross-zonal authorization. Like the others, failure to comply will lead to three months of suspension of its operations.
In light of the sanctions imposed on the OMCs, NPA cautioned them that failure to comply with the approved rules and regulations stipulated would be subjected to “further” sanctions.
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