NPA revokes licenses of 30 Oil Marketing Companies for non-compliance

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Due to non-compliance with the Authority’s laws and regulations on the acquisition and maintenance of the licenses, the National Petroleum Authority (NPA) has cancelled the licenses of 30 Oil Marketing Companies (OMCs).

Abagurugu Oil Company Limited, Apex Petroleum Ghana Limited, Avos Oil Company Limited, Best Petroleum Limited, Bisvel Petroleum Services, Capstone Oil Limited, Deep Petroleum Limited, Deliman & Company Ltd., Glee Oil Limited, and Golden Petroleum Limited are among the organizations that are impacted.

Green Petroleum Limited, Hak Oil Company Limited, Havilah Oil Ghana Limited, Hossana Oil Company Limited, Jas Petroleum Limited, Lilygold Energy Resources Limited, M3 Global Company Limited, Maiga & Hhm Company Limited, Mba Global Petroleum Limited, and Peta Energy Limited are some of the other companies.

The remaining companies are Precious Energy Ghana Limited, Zoe Petroleum Limited, Royal Roses Oil Company Limited, Titan Petroleum Limited, Union Oil Ghana Limited, Q8 Oil (Gh.) Company Limited, and Rigworld Petroleum Services Limited.

The Chief Executive of the NPA, Dr. Mustapha Abdul-Hamid, warned that the Authority will not hesitate to cancel the licenses of industry participants that persistently break the regulations during a previous meeting with the Board members of the Association of Oil Marketing Companies (AOMCs).

He said that the NPA had been lenient with industry participants who broke the regulations throughout the years, which had allowed many more people the chance to break the laws with impunity.

“We cannot all be in a conspiracy to run down our country and yet turn round to and blame the government for what goes wrong”, At the meeting with the Board members, Dr. Abdul-Hamid was cited as stating.

He explained to the oil marketers that it was in their own best interests for the market to be properly controlled since their businesses would fail if the sector collapsed.

Read the statement from NPA below:

Source: Ghanatodayonline.com

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