The National Petroleum Authority (NPA) has taken decisive action against several Petroleum Products Marketing Companies (PPMCs) for their involvement in illicit practices related to the distribution of petroleum products. The violations prompted the NPA to apply stringent sanctions to ensure compliance with industry regulations.
In a statement released by the Corporate Affairs Directorate, the NPA detailed the violations and the corresponding sanctions imposed on the affected PPMCs.
The NPA’s actions underline its commitment to enforcing industry standards and maintaining the integrity of the petroleum products sector.
The affected companies and the associated sanctions include “ Andev Co. Ltd which will pay total fine of GHS 90,000, comprising GHS 10,000 for violating UPPF (Unified Petroleum Price Fund) regulations and GHS 10,000 each for eight (8) counts of making false UPPF representations to the Authority. Failure to comply will result in a three (3) month suspension of their operations.”
Also, “Beap Energy will pay a total fine of GHS 20,000, comprising GHS 10,000 for violating UPPF regulations and GHS 5,000 each for two (2) counts of third-party supplies. Failure to comply will lead to a three (3) month suspension of their operations.”
“BF Petroleum will pay a total fine of GHS 95,000, comprising GHS 10,000 for violating UPPF regulations, GHS 5,000 each for ten (10) counts of third-party supplies, and GHS 5,000 each for seven (7) counts of lifting petroleum products without cross-zonal authorization. Failure to comply will result in a three (3) month suspension of their operations.”
“Anasset Co. Ltd: A total fine of GHS 50,000, comprising GHS 10,000 for violating UPPF regulations, GHS 10,000 each for four (4) counts of making false UPPF representations to the Authority. Failure to comply will lead to a three (3) month suspension of their operations.”
“Cost Energy will pay a total fine of GHS 665,000, comprising GHS 10,000 for engaging in third-party supplies and GHS 5,000 each for one hundred and thirty-one (131) counts of third-party supplies. Failure to comply will result in a three (3) month suspension of their operations,” parts of the statement said.
“Compass Oleum Ltd will pay a total fine of GHS 350,000, comprising GHS 10,000 for violating UPPF regulations, GHS 5,000 each for fifteen (15) counts of lifting petroleum products without cross-zonal authorization, and GHS 5,000 each for fifty-three (53) counts of engaging in third-party supplies. Failure to comply will lead to a three (3) month suspension of their operations.”
“Concord Oil Ltd will pay a total fine of GHS 65,000, comprising GHS 10,000 for violating UPPF regulations, GHS 5,000 each for four (4) counts of engaging in third-party supplies, and GHS 5,000 each for seven (7) counts of lifting petroleum products without cross-zonal authorization. Failure to comply will result in a three (3) month suspension of their operations,” it said.
The statement further indicated that any company failing to comply with the imposed sanctions will face further punitive measures.
