4 OMCs sanctioned for illicit petroleum trading

4 OMCs sanctioned for illicit petroleum trading

The National Petroleum Authority (NPA) has sanctioned four Oil Marketing Companies (OMCs) for engaging in illegal third-party trading and petroleum product lifting.

For breaking the Authority’s seals, Lilygold Resources Limited will pay a fine not exceeding five times the license fee, failure of which will result in the suspension of its operating licence in addition to the penalties.

Finest Oil will have to pay a fine of GHS160,000.00 comprising GHS10,000.00 for engaging in third-party supplies for the first time and GHS150,000.00 for the unlawful lifting of petroleum products.

Petro XP is also to pay a fine GHS340,000.00, which includes GHS10,000.00 for a first time engaging in third-party supplies and GHS330,000.00 for the unlawful lifting of petroleum products. If Petro XP fails to comply, its operations will be suspended for an additional one month.

Glasark Oil’s fine is GHS95,000.00; GHS10,000.00 for engaging in third-party supplies for the first time and GHS85,000.00 for the unlawful lifting of petroleum products.

Should the companies fail to comply, their operations will be suspended for an additional month.

The NPA has cautioned that any company that fails to observe strictly the rules and guidelines stipulated by the Authority will be subjected to further sanctions.

Source: Energy Ghana

 

 

 

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