The National Petroleum Authority (NPA) has sanctioned seven Petroleum Products Marketing Companies (PPMCs) for indulging in illegal petroleum product distribution.
The companies have been ordered to pay fines for breaking UPPF regulations, making false UPPF claims to the Authority, and engaging in third-party supplies.
If they should default in paying the fine, they would have their operations suspended for three-months.
In the case of Andev Co. Ltd, the total fine will be GHS90,000.00. This includes GHS10,000.00 for breaking UPPF regulations and GHS10,000.00 for each of the eight (8) counts of misleading UPPF representations to the Authority.
Beap Energy was fined GHS20,000.00 in total, with GHS10,000.00 for violating UPPF standards and GHS5,000.00 for two (2) offences of third-party supply.
BF Petroleum will pay a total fine of GHS95,000.00. This constitutes GHS10,000.00 for violating UPPF regulations, GHS5,000.00 each for ten (10) counts of third-party supplies and GHS5,000.00 each for seven (7) counts of lifting petroleum products without cross-zonal authorization.
Anasset Co. Ltd is to pay a total fine of GHS50,000.00. This comprises GHS10,000.00 for violating UPPF regulations, GHS10,000.00 each for four (4) counts of making false UPPF representations to the Authority.
Another company, Cost Energy, was fined GHS 665,000.00 in total, including GHS10,000.00 for engaging in third-party supplies and GHS5,000.00 each for 131 counts of third-party supplies.
Compass Oleum Ltd will pay a total of GHS350,000.00 in fines. This amounts to GHS10,000.00 for violating UPPF regulations, GHS5,000.00 for each count of lifting petroleum products without cross-zone authorization, and GHS,5000.00 for each count of engaging in Third Party supply.
Concord Oil Ltd is to pay a total fine of GHS65,000.00. This comprises GHS10,000.00 for violating UPPF regulations, GHS5,000.00 each for four (4) counts of engaging in third-party supplies and GHS5,000.00 each for seven (7) counts of lifting Petroleum products without cross-zonal authorization.
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By: Rainbowradioonline.com/Ghana
