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NPA fines seven firms over GH¢1.5 million for illicit trading of petroleum products

Dr Mustapha Hamid1212 Mustapha Hamid is the NPA boss

Mon, 23 May 2022 Source: www.ghanaweb.com

Seven Petroleum Service Providers have been fined by the National Petroleum Authority (NPA) for engaging in illicit third-party trading of petroleum products.

The companies are Moari Oil Company Ltd, Rodo Oil Company Ltd, MBA Global Ltd, Cigo Energy Ltd and Torrid Global Ltd. The rest are Naddif Co Ltd, and GAT Oil.

In a statement issued by the NPA, it outlined the various sanctions for each firm as follows;

“Moari Oil Company Ltd pay a fine of GH¢50, 000, comprising of GH¢10,000 for engaging in Third-Party Supplies and GH¢40,000 for the unlawful lifting of petroleum products.”

“Rodo Oil Co.Ltd must pay a fine of GH¢350, 000 comprising of GHS10,000 for engaging in Third-Party Supplies and GH¢340,000 for the unlawful lifting of petroleum products, as well as a one month suspension of operations.”

MBA Global Ltd was slapped with a fine of GH¢85,000.00 comprising of GH¢10,000 for engaging in Third Party Supplies, GH¢75,000.00 for the unlawful lifting of petroleum products and one month suspension of operations.

Cigo Energy is also expected to pay 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.

Torrid Global Ltd was sanctioned to pay 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, while Naddif Co. Ltd is expected to pay GH¢150,000 comprising of GH¢10,000 for engaging in Third Party Supplies, GH¢140,000.00 for the unlawful lifting of petroleum products and one-month suspension of operations.

“That GAT Oil pay 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-month suspension of operations.”

However, the NPA noted that any company that fails to comply with the rules and regulations of the Authority is subjected to appropriate sanctions.

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Source: www.ghanaweb.com
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