NPA sanctions seven OMCs for illegitimate fuel distribution
The National Petroleum Authority (NPA) has sanctioned seven Petroleum Products Marketing Companies (PPMCs) for illicit distribution of petroleum products.
They are to pay fines for violation of Unified Petroleum Pricing Fund (UPPF) regulations, making false UPPF representations to the Authority, and engaging in third-party supplies, failure by which they would be suspended for three months.
“In the case of Andev Co. Ltd, it will pay a total fine of GH¢90,000.00. This comprises GH¢10,000.00 for violating UPPF regulations and GH¢10,000.00 each for eight (8) counts of making false UPPF representations to the Authority.”
A statement copied to the Ghana News Agency in Accra said Beap Energy would pay a total fine of GH¢20,000.00, comprising GH¢10,000.00 for violating UPPF regulations and GH¢5,000.00 each for two (2) counts of third-party supplies.
It said BF Petroleum company would pay a total fine of GH¢95,000.00. This constitutes GH¢10,000.00 for violating UPPF regulations, GH¢5,000.00 each for ten (10) counts of third-party supplies and GH¢5,000.00 each for seven (7) counts of lifting petroleum products without cross-zonal authorization.
Anasset Co. Ltd , according to the statement would pay a total fine of GH¢50,000.00 comprising GH¢10,000.00 for violating UPPF regulations, GH¢10,000.00 each for four (4) counts of making false UPPF representations to the Authority.
“Another company, Cost Energy is to pay a total fine of GH¢665,000.00, comprising GH¢10,000.00 for engaging in third-party supplies and GH¢5,000.00 each for one hundred and thirty-one (131) counts of third-party supplies.
The statement said Compass Oleum Ltd would pay a total fine of GH¢350,000.00, which constituted GH¢10,000.00 for violating UPPF regulations, GH¢5,000.00 each for fifteen (15) counts of lifting petroleum products without cross zonal authorization and GH¢,5000.00 each for fifty-three (53) counts of engaging in Third Party supplies.
Concord Oil Ltd would also pay a total fine of GH¢65,000.00 comprising GH¢10,000.00 for violating UPPF regulations, GH¢5,000.00 each for four (4) counts of engaging in third-party supplies and GH¢5,000.00 each for seven (7) counts of lifting Petroleum products without cross-zonal authorization.
The NPA cautioned that any company that failed to comply with the approved rules and regulations stipulated by the Authority would be subjected to further sanctions.
“The UPPF ensures that prices of petroleum products are the same across the country.”
Source: GNA