NPA sanctions four OMCs for illicit trading

The National Petroleum Authority (NPA) has sanctioned four Oil Marketing Companies (OMCs) for engaging in illicit third-party trading and unlawful lifting of petroleum products.

Finest Oil- GH₵160,000 fine

Per the sanction, Finest Oil will pay a fine of GH₵160,000 comprising GH₵10,000 for engaging in third-party supplies for the first time and GH₵150,000 for the unlawful lifting of petroleum products.

Failure by the company to comply will attract an additional one month suspension of its operations.

Petro XP- GH₵340,000 fine

In the case of Petro XP, it will pay a fine of GH₵340,000 comprising GH₵10,000 for engaging in third-party supplies for the first time and GH₵330,000 for the unlawful lifting of petroleum products.

If Petro XP fails to comply, it will attract an additional one month’s suspension of its operations.

Glasark Oil- GH₵95,000 fine

Glasark Oil has been fined GH₵95,000 comprising GH₵10,000 for engaging in third-party supplies for the first time and GH₵85,000  for the unlawful lifting of petroleum products.

Failure by the company to comply will attract an additional one month’s suspension of its operations.

Lilygold Resources Limited

For Lilygold Resources Limited, it will pay a fine not exceeding five times the license/permit fee for breaking the Authority’s seals, and failure to pay will result in the suspension of its operating license in addition to paying the penalties.

The NPA cautions that any company that fails to comply with the rules and guidelines stipulated by the Authority will be subjected to further sanctions.