NPA Fines 7 Petroleum OMCs
The National Petroleum Authority (NPA) has slapped seven (7) Oil Marketing Companies (OMC) with fines ranging from GHC20,000 to GHC665, 000.
In a notice, it said the companies had breached the industry regulation by engaging in illicit practices.
The companies risk being suspended for three months in default of the fine.
Beap Energy will be paying the least fine among the seven for violating the Unified Petroleum Pricing Fund (UPPF) regulation and engaging in third party supplies. On the other hand is Cost Energy which had the highest fine for engaging in Third-party supplies.
Andev Company Limited and Anasset Company Limited received GHC90,000 and GHC50,000 fines respectively for violating the UPPF regulation and making false UPPF representation to the Authority.
Meanwhile, BF Petrol got GHC95,000 for breaching UPPF regulation, engaging in third party supplies and lifting petroleum products without zonal authorization.
Compass Oleum Limited and Concord Oil Limited will pay GHC350,000 and GHC65,000 respectively for violating UPPF regulation, engaging in third party supplies and lifting petroleum products without zonal authorization.
The Authority has warned that companies who persist in violating the regulations will be subjected to further sanctions.
