9 OMCs fined GH¢2.2m for illicit trading, unlawful lifting of petroleum products

Nine Oil Marketing Companies (OMCs) have been fined over GH¢2.2 million by the National Petroleum Authority (NPA) for illicit third-party trading and unlawful lifting of petroleum products.

The nine companies were fined a total of GH¢2,215,000.

According to a release by the authority, Bello Petroleum, Jas Petroleum, Oval Energy, Kros Energy, Safety Petroleum, Santol Energy, Riseglobe Energy, Sayon Energy, and Cigo Energy are

Read full article.the affected entities.

The NPA details the fines as follows;

1. Cigo Energy pays a fine of ₵725,000.00 comprising ₵30,000.00 for engaging in third-party supplies for the second time and ₵695,000.00 for the unlawful lifting of petroleum products.

2. Sayon Energy is to pay ₵425,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and ₵415,000.00 for the unlawful lifting of petroleum products.

3. Bello Petroleum is to pay ₵120,000.00 comprising ₵10,000 for engaging in third-party supplies for the first time and ₵110,000.00 for the unlawful lifting of petroleum products.

4. Jas Petroleum is to pay a fine of ₵65,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and ₵55,000.00 for the unlawful lifting of petroleum products.

5. Oval Energy is mandated to pay ₵245,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and GHS235,000.00 for the unlawful lifting of petroleum products.

6. Kros Energy is to pay a fine of ₵295,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and GHS285,000.00 for the unlawful lifting of petroleum products.

7. Safety Petroleum was fined ₵200,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and ₵190,000.00 for the unlawful lifting of petroleum products.

8. That Santol Energy will pay a fine of ₵75,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and ₵65,000.00 for the unlawful lifting of petroleum products.

9. Riseglobe Energy was fined of ₵65,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and ₵55,000.00 for the unlawful lifting of petroleum products.

SSD/BOG