Four Oil Marketing Companies (OMCs) have received sanctions from the National Petroleum Authority (NPA) for engaging in illegal petroleum product lifting and dealing with third parties.
In accordance with the sentence, Finest Oil will pay a fine of GHS160,000.00, of which GHS10,000.00 will be paid for using third parties as suppliers and GHS150,000.00 will be paid for the illegal removal of petroleum products.
The company’s operations will be suspended for an additional one (1) month if it doesn’t comply.
In the instance of Petro XP, the company will pay a fine of GHS340,000.00, made up of GHS10,000.00 for first-time third-party supply activity and GHS330,000.00 for unauthorized petroleum product lifting. Petro XP’s operations will be suspended for an extra one (1) month if it doesn’t comply.
Glasark Oil has been fined GHS95,000.00, which is made up of GHS10,000.00 for first-time third-party supply activity and GHS85,000.00 for illegal petroleum product lifting.
The company’s operations will be suspended for an additional one (1) month if it doesn’t comply.
For violating the Authority’s seals, Lilygold Resources Limited will be required to pay a fine that cannot be more than five times the license/permit cost. If the fine is not paid, the company’s operating license will also be suspended in addition to the other penalties.
The NPA warns that any business that disregards the requirements set forth by the Authority will face additional penalties.
