NPA chases 45 OMCs over GH₵68m debt

Some 45 Oil Marketing Companies (OMC) owe the National Petroleum Authority (NPA) about GH₵68 million.

The Authority has therefore sent a final default notice to them to make good on their outstanding payments of the Primary Distribution Margin (PDM) Fund, by September.

The NPA has threatened to publish the names of the Directors and Shareholders of OMCs that fail to pay.

The Authority has also threatened to institute legal action against them should they not heed this final warning.

The 45 defaulting companies include Apex Petroleum Ghana Limited, Avos Oil Company Limited, Bisvel Petroleum Services, Black Rock Energy Limited, Capstone Oil Limited.

Other companies on the defaulters’ list are Champion Oil Company Limited, Deep Petroleum Limited, Deliman & Co Limited, G & G Oil Limited, Glee Oil Limited, Golden Petroleum Limited, Hak Oil, Havilah Oil Ghana Limited, Hossana Oil Company Limited, Humano Energy Limited, Jas Petroleum Limited, Karela Oil & Gas Limited, Life Petroleum Company Limited, Lillygold Energy Resources Limited, Maiga & Hhm Company Limited, Mba Global Petroleum Limited, Mm Energy Limited, Orient Energy Limited, Oval Energy Company Limited, Energy Company Limited, Perfect Petroleum Company Limited, Peta Energy Limited.

The rest of the defaulting OMCs are Petro Afrique Ghana Limited, 08 Oil (Gh) Company Limited, Rich Oil Company Limited, Rodo Oil Limited, Royal Roses Oil Company Limited, Safety Petroleum Limited, Santol Energy Limited, Sawiz Petroleum Company Limited, Sephem Oil Company Limited, Sky Petroleum Limited, Spirits Petroleum Limited, Titan Petroleum Limited, Union Oil Ghana Limited, Unique Oil Company Limited, Universal Oil Company Limited, Warren Oil Company Limited and Zoe Petroleum Limited.

Primary distribution/transmission margin goes into a fund and proceeds used to offset cost incurred in moving products from the Bulk Oil Storage and Transportation Company Limited (BOST) receiving depot to other BOST depots across the country.

Per the law, payment of margins is to be made at 45 days after lifting of products and defaulting OMCs are deactivated from loading.

Per the sanctions prescribed in law, the defaulting OMCs will be stopped from operating they fail to pay up by the August 4, deadline.