Source: newsthemegh.com
Forty Oil Marketing Companies (OMCs) had their licenses terminated by Ghana’s petroleum downstream regulator for noncompliance with industry rules.
Thirty OMC licenses were revoked, the agency revealed in a statement in January of this year.
This indicates that the NPA has cancelled ten more licenses since January.
Informing the media on the Authority’s activities for this year, Dr. Mustapha Abdul-Hamid, the Chief Executive of the NPA, clarified that the aforementioned license holders were involved in illicit activities.
“So, we’ve also been hard on people holding licences who didn’t have the correct requirements for holding those licences,” he said.
In order to guarantee that only those who follow the rules operate, the NPA chief gave assurances to industry participants about the Authority’s dedication to sanitizing the sector by eliminating non-compliant entities.
According to Dr. Abdul-Hamid, the NPA formed a committee with EOCO support to pursue OMCs that had neglected to pay levies and margins.
Dr. Abdul-Hamid joyfully declared that they had been able to collect inheritance debts and that fund collection had increased since the committee’s inception.
“Today, we’ve been able to collect up to Gh¢73 million from people who were not paying or ready to pay this sum of money,” he added.
In order to enable Ghanaians fully profit from their natural resources, the NPA head went on to tell the media that one of the things his organization is working to accomplish is alter the NPA Act 2005, Act 691 to match contemporary petroleum sector standards.