NPA CEO, Dr Mustapha Hamid
Ghana's petroleum downstream sector very competitive, Mustapha Hamid
Many companies punished for flouting petroleum regulations
Adhere to petroleum downstream regulations, Mustapha Hamid
Chief Executive Officer (CEO) of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has noted that a total of 102 Oil Marketing Companies (OMCs) have been penalized for not conforming to rules and regulations.
He continued that several companies have also been punished for flouting the petroleum downstream regulations, among others.
Speaking at the launch of TotalEnergies’ rebranded lubricants in Accra, Mustapha Hamid said, “I have been in office for four months and in these months, I have punished many companies...There are times I have to sign penalties for 102 OMCs.”
He labelled Ghana's petroleum downstream sector as very competitive, explaining that the country has about 170 Oil Marketing Companies operating.
Mustapha Hamid cautioned industry players to not cut corners amidst the completion to make profits.
“We are no longer in the era when the NPA looked the other way for people to break rules of the industry with impunity. It’s not going to happen. Once you play by the rules, NPA will also fairly regulate the industry,” he stated.
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