NPA cracks whip on 8 BDCs, OMCs over tax evasion

A total of eight Oil Marketing Companies (OMCs) and Bulk Distribution Companies (BDCs) have been suspended for their involvement in activities that led to loss of tax revenue to the state, the National Petroleum Authority has revealed.

A statement from the downstream petroleum regulator said, the affected companies will face sanctions, for periods of between one month and three months, effective 18th July 2018.

“The listed companies are to desist from engaging in the sale, supply, transportation, discharge and receipt of petroleum products for the duration of their suspension,” the statement read.

The first group of affected companies, suspended for a one-month period are Union Oil Ghana Limited; Agapet Limited; Excel Oil Company Limited; Misyl Energy Company Limited and Globex Energy Company Limited.

The second category of offenders facing a 3-month suspension include: Petro Afrique Company Limited; Life Petroleum Company Limited and Unique Company Limited.

As a result of the suspension, the NPA has therefore advised the public not to do business with any of the sanctioned companies and do well to report any infringement on their part to the Authority.

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