Source: newsthemegh.com
The National Petroleum Authority (NPA) has levied sanctions on seven oil marketing companies for breaking industry rules in an effort to regulate the distribution of petroleum products in Ghana.
It was discovered that the affected businesses were participated in illegal distribution methods for petroleum products.
The NPA announced in a statement dated October 12, 2023 that it had implemented the necessary sanctions and that the penalized businesses will pay fines ranging from GHS20,000 to GHS665,000.
The companies’ operations will be suspended for three months if they don’t pay the fine and adhere to industry norms.
Andev Co. Ltd, Beap Energy, BF Petroleum, Anasset Co. Ltd, Cost Energy, Compass Oleum Ltd, and Concord Oil Ltd are the seven companies that are impacted and are also subject to the penalties. They have all been charged with breaking the NPA’s rules, with some businesses accused of stealing petroleum items without cross-zonal permission and others allegedly involved in third-party supply.
Any business found to be breaking the rules would face additional consequences, according to the NPA’s commitment to upholding industry norms and sanctions.
The NPA recommends all enterprises that promote petroleum products to follow the rules and act legally to avoid penalties.