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General News Tue, 24 May 2022

NPA sanctions various oil companies

The National Petroleum Authority (NPA) has taken notice of infractions by some Petroleum Service Providers (PSPs) who have engaged in illicit third-party trading of Petroleum products and has accordingly applied and the requisite sanctions.

A statement from the Corporate Affairs Department of NPA listed the affected companies and accompanying sanctions are as follows;

That Moari Oil Co. Ltd pay a fine of GHS50,000.00 comprising of GHS10,000.00 for engaging in Third Party Supplies and GHS40,000.00 for the unlawful lifting of petroleum products.

That Rodo Oil Co. Ltd pay a fine of GHS350,000.00 comprising of GHS10,000.00 for engaging in Third Party Supplies, GHS340,000.00 for the unlawful lifting of petroleum products and a one (1) month suspension of operations.

That MBA Global Ltd pay a fine of GHS85,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies, GHS75,000.00 for the unlawful lifting of petroleum products and one (1) month suspension of operations.

That Cigo Energy Ltd pay a fine of GHS245,000.00 comprising of GHS10,000.00 for engaging in Third Party Supplies and GHS235,000 for the unlawful lifting of petroleum products.

That Torrid Global Ltd pay a fine of GHS550,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies and GHS540,000.00 for the unlawful lifting of petroleum products.

That Naddif Co. Ltd pay a fine of GHS150,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies, GHS140,000.00 for the unlawful lifting of petroleum products and one (1) month suspension of operations.

That GAT Oil pay a fine of GHS120,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies, GHS110,000.00 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.
Source: www.etvghana.com
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