May 24, 2022

NPA Fines 7 PSPs For Third Party Violation

The National Petroleum Authority (NPA) has fined seven Petroleum Service Providers (PSPs) for engaging in third-party trading of petroleum products.

Four out of the seven PSPs were also handed down a month’s suspension of operation.

The seven companies are Moari Oil Company Limited, Rodo Oil Company Limited, MBA Global Limited, Cigo Energy Limited, Torrid Global limited, Nadif Company Limited, and GAT Oil.

Moari Oil company is fined GHc50, 000 for engaging in third party supplies and GHc40, 000 for the unlawful lifting of petroleum products.

Rodo Oil company is fined Ghc 350, 000 for engaging in third party supplies GHc340, 000 for the unlawful lifting of petroleum products and a month suspension.

MBA Global is fined GHc85, 000 for engaging in third party supplies, GHc75, 000 for the unlawful lifting of petroleum products and a one-month suspension of operations.

Cigo Energy is to pay GHc245, 000 for engaging in third party supplies and GHc235, 000 for the unlawful lifting of petroleum products.

Torrid Global limited got a fine of GHc550, 000 for engaging in third party supplies and GHc540, 000 for the unlawful lifting of petroleum products.

Nadif Company got a fine of GHc150, 000 for engaging in third party supplies, GHc140, 000 for the unlawful lifting of petroleum products and a month suspension of operations.

GAT oil will pay a fine of GHc120, 000 for engaging in third party supplies, GHc110, 000 for the unlawful lifting of petroleum products and a month of suspension.

The NPA held that any company that fails to comply with the rules and guidelines stipulated by the National Petroleum Authority will be subjected to appropriate sanctions.

Source: opemsuo.com/Hajara Fuseini

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