National Petroleum Authority sanctions four OMCs for trading illegally

The National Petroleum Authority (NPA) has sanctioned four Oil Marketing Companies (OMCs) for engaging in illicit third-party trading and unlawful lifting of petroleum products.

Per the sanction, Finest Oil will pay a fine of GHS160,000.00 comprising GHS10,000.00 for engaging in third-party supplies for the first time and GHS150,000.00 for the unlawful lifting of petroleum products.

Failure by the company to comply will attract an additional one (1) month’s suspension of its operations.

A statement from NPA and copied to the Ghana News Agency in Accra said in the case of Petro XP, it will pay a fine of GHS340,000.00 comprising GHS10,000.00 for engaging in third-party supplies for the first time and GHS330,000.00 for the unlawful lifting of petroleum products and failure to comply, it will attract an additional one (1) month’s suspension of its operations.

Glasark Oil has been fined GHS95,000.00 comprising GHS10,000.00 for engaging in third-party supplies for the first time and GHS85,000.00 for the unlawful lifting of petroleum products.

Failure by the company to comply will attract an additional one (1) month’s suspension of its operations.

The statement said for Lilygold Resources Limited, it will pay a fine not exceeding five (5) times the license/permit fee for breaking the Authority’s seals, and failure to pay will result in the suspension of its operating license in addition to paying the penalties.

The NPA cautioned that any company that failed to comply with the rules and guidelines stipulated by the Authority would be subjected to further sanctions.