<\/p>\n
The National Petroleum Authority (NPA) has fined seven Petroleum Service Providers almost $3 million for illicit third-party trading of petroleum products.<\/p>\n
The NPA says the move is geared towards sanitising the sector and ensuring standard practice among businesses in the space.<\/p>\n
The authority in a statement said it has \u201ctaken notice of infractions by some Petroleum Service Providers (PSPs) who have engaged in illicit third-party trading of petroleum products and has accordingly applied the requisite sanctions.\u201d<\/p>\n
It listed the affected companies and accompanying sanctions as follows:<\/p>\n
1. That Moari Oil Co. Ltd pays a fine of GHS50,000.00 comprising of GHS10,000.00 for engaging in Third-Party Supplies and GHS40,000.00 for the unlawful lifting of petroleum products.<\/p>\n
2. That Rodo Oil Co. Ltd pays a fine of GHS350,000.00 comprising of GHS10,000.00 for engaging in Third-Party Supplies, GHS340,000.00 for the unlawful lifting of petroleum products, and a one (1) month suspension of operations.<\/p>\n
3. That MBA Global Ltd pays a fine of GHS85,000.00 comprising of GHS 10,000.00 for engaging in Third-Party Supplies, GHS75,000.00 for the unlawful lifting of petroleum products, and one (1) month suspension of operations.<\/p>\n
4. That Cigo Energy Ltd pays a fine of GHS245,000.00 comprising of GHS10,000.00 for engaging in Third-Party Supplies and GHS235,000 for the unlawful lifting of petroleum products.<\/p>\n
5. That Torrid Global Ltd pays a fine of GHS550,000.00 comprising of GHS 10,000.00 for engaging in Third-Party Supplies and GHS540,000.00 for the unlawful lifting of petroleum products.<\/p>\n
6. That Naddif Co. Ltd pays a fine of GHS150,000.00 comprising of GHS 10,000.00 for engaging in Third-Party Supplies, GHS140,000.00 for the unlawful lifting of petroleum products, and one (1) month suspension of operations.<\/p>\n
7. That GAT Oil pays a fine of GHS120,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies, GHS110,000.00 for the unlawful lifting of petroleum products, and one (1) month suspension of operations.<\/p>\n
\u201cAny company that fails to comply with the rules and guidelines stipulated by the National Petroleum Authority will be subjected to appropriate sanctions,\u2019 it cautioned.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The National Petroleum Authority (NPA) has fined seven Petroleum Service Providers almost $3 million for illicit third-party trading of petroleum products. The NPA says the move is geared towards sanitising the sector and ensuring standard practice among businesses in the space. The authority in a statement said it has \u201ctaken notice of infractions by some […]<\/p>\n","protected":false},"author":1,"featured_media":1098499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[4609,6405,290,1146,3408,11841,185],"class_list":["post-1098497","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-fines","tag-gh3","tag-million","tag-npa","tag-petroleum","tag-providers","tag-service"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1098497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1098497"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1098497\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1098497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1098497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1098497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}