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NPA sanctions 7 oil companies over GH3 million

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The National Petroleum Authority (NPA) penalized seven Petroleum Service Providers for almost $3 million for illegally transferring petroleum products with other parties.

According to the NPA, the measure is intended to sanitize the industry and ensure that enterprises in the field adhere to proper procedures.

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In a statement, the Authority stated that it had “taken note of transgressions by some Petroleum Service Providers (PSPs) who have participated in unlawful third-party trade of petroleum products and has therefore imposed the necessary punishments.”

It provided the following list of impacted firms and corresponding sanctions:

  1. Moari Oil Company Limited must pay a fine of GHS50,000.00, comprised of GHS10,000.00 for participating in Third-Party Supplies and GHS40,000.00 for the illegal lifting of petroleum products.
  1. That Rodo Oil Co., Ltd. pay a fine of GHS350,000.00, comprised of GHS10,000.00 for engaging in Third-Party Supplies and GHS340,000.00 for the illicit lifting of petroleum products, and those operations be suspended for one (1) month.

That MBA Global Ltd pays a fine of GHS85,000.00, comprised of GHS10,000.00 for engaging in Third-Party Supplies and GHS75,000.00 for the illegal lifting of petroleum products, and that activities be suspended for one (1) month.

  1. That Cigo Energy Ltd pays a fine of GHS245,000, comprised of GHS10,000 for Third-Party Supplies and GHS235,000 for the illegal lifting of petroleum products.
  2. That Torrid Global Ltd pays a total fine of GHS550,00,00, comprised of GHS10,000.00 for participating in Third-Party Supplies and GHS540,000.00 for the illegal lifting of petroleum products.
  3. That Naddif Co. Ltd pay a fine of GHS150,000.00, comprised of GHS10,000.00 for engaging in Third-Party Supplies and GHS140,000.00 for the illicit lifting of petroleum products, and those operations are suspended for one (1) month.
  1. That GAT Oil pay penalties of GHS120,000.00, comprised of GHS10,000.00 for participating in Third Party Supplies and GHS110,000.00 for the illegal lifting of petroleum products, and those operations be suspended for one (1) month.
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“Any corporation that fails to comply with the National Petroleum Authority’s regulations and recommendations would be subject to appropriate consequences,” it warned.

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