NPA Sanctions 4 OMCs For Illicit Trading
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The National Petroleum Authority (NPA) has sanctioned four Oil Marketing Companies (OMCs) for engaging in illicit third-party trading and unlawful lifting of petroleum products.
Per the sanction, Finest Oil will pay a fine of GH¢160,000 comprising GH¢10,000 for engaging in third-party supplies for the first time and GH¢150,000 for the unlawful lifting of petroleum products.
Failure by the company to comply will attract an additional one (1) month’s suspension of its operations.
In the case of Petro XP, it will pay a fine of GH¢340,000 comprising GH¢10,000 for engaging in third-party supplies for the first time and GH¢330,000 for the unlawful lifting of petroleum products. If Petro XP fails to comply, it will attract an additional one (1) month’s suspension of its operations.
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Glasark Oil has been fined GH¢95,000 comprising GH¢10,000 for engaging in third-party supplies for the first time and GH¢85,000 for the unlawful lifting of petroleum products.
Failure by the company to comply will attract an additional one (1) month’s suspension of its operations.
For Lilygold Resources Limited, it will pay a fine not exceeding five (5) times the licence/permit fee for breaking the Authority’s seals; and failure to pay will result in the suspension of its operating licence in addition to paying the penalties.
The NPA cautions that any company that fails to comply with the rules and guidelines stipulated by the Authority will be subjected to further sanctions.
By: B&FT