Accra-Ghana, Oct 12, GNA – The National Petroleum Authority (NPA) has sanctioned seven Petroleum Products Marketing Companies (PPMCs) for illicit distribution of petroleum products.
They are to pay fines for violation of Unified Petroleum Pricing Fund (UPPF) regulations, making false UPPF representations to the Authority, and engaging in third-party supplies, failure by which they would be suspended for three months.
“In the case of Andev Co. Ltd, it will pay a total fine of GHS90,000.00. This comprises GHS10,000.00 for violating UPPF regulations and GHS10,000.00 each for eight (8) counts of making false UPPF representations to the Authority.”
A statement copied to the Ghana News Agency in Accra said Beap Energy would pay a total fine of GHS20,000.00, comprising GHS10,000.00 for violating UPPF regulations and GHS5,000.00 each for two (2) counts of third-party supplies.
It said BF Petroleum company would 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 , according to the statement would pay a total fine of GHS50,000.00 comprising 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 is to pay a total fine of GHS 665,000.00, comprising GHS10,000.00 for engaging in third-party supplies and GHS5,000.00 each for one hundred and thirty-one (131) counts of third-party supplies.
The statement said Compass Oleum Ltd would pay a total fine of GHS350,000.00, which constituted GHS10,000.00 for violating UPPF regulations, GHS5,000.00 each for fifteen (15) counts of lifting petroleum products without cross zonal authorization and GHS,5000.00 each for fifty-three (53) counts of engaging in Third Party supplies.
Concord Oil Ltd would also pay a total fine of GHS65,000.00 comprising 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.
The NPA cautioned that any company that failed to comply with the approved rules and regulations stipulated by the Authority would be subjected to further sanctions.
“The UPPF ensures that prices of petroleum products are the same across the country.”
