<\/p>\n
<\/p>\n
<\/p>\n
In a move to regulate the distribution of petroleum products in Ghana, the National Petroleum Authority (NPA) has imposed sanctions on seven oil marketing companies for violating industry regulations.<\/p>\n
The affected companies were found to have engaged in illicit practices in the distribution of petroleum products.<\/p>\n
In a statement dated October 12, 2023, the NPA said it has applied the requisite sanctions, and the affected companies will pay fines ranging from GHS20,000 to GHS665,000.<\/p>\n
Failure to comply with the fine payment and industry regulations will lead to a three months suspension of the companies\u2019 operations.<\/p>\n
The seven affected companies and accompanying sanctions are Andev Co. Ltd, Beap Energy, BF Petroleum, Anasset Co. Ltd, Cost Energy, Compass Oleum Ltd, and Concord Oil Ltd. They have all been accused of violating the NPA\u2019s regulations, with some companies accused of lifting petroleum products without cross-zonal authorization while others engaged in third-party supplies.<\/p>\n
The NPA has expressed its commitment to enforcing industry regulations and sanctions, and any company found to violate the rules will face further sanctions.<\/p>\n
The NPA advises all petroleum products marketing companies to adhere to regulations and operate within the law to avoid sanctions.<\/p>\n
Source: Vincent Kubi\/Daily Guide<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n
Featured Video
<\/p>\n <\/p>\n
<\/p>\n
<\/p>\n Disclaimer<\/span>: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.<\/span><\/td>\n
\n <\/tr>\n
\n<\/table>\n
\n
\n <\/p>\n