For illegal third-party trade of petroleum products, the National Petroleum Authority (NPA) penalized seven Petroleum Service Providers about GH¢3 million.
According to the NPA, the measure is aimed at sanitizing the industry and ensuring that enterprises in the market follow standard practices.
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In a statement, the authority claimed it had “taken notice of infractions by some Petroleum Service Providers (PSPs) who have engaged in illicit third-party trading of petroleum products and has applied the requisite sanctions.”
The following are the firms that were impacted and the sanctions that accompanied them:
1. That Moari Oil Co. Ltd pays 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 pays 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 pays 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 pays 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 pays 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 pays a fine of GH¢150,000.00 comprising 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 pays a fine of GH¢120,000.00 comprising 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,’ it cautioned.
SOURCE: CITINEWS
