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 violating the Unified Petroleum Pricing Fund (UPPF) regulations, making false UPPF representations to the Authority and engaging in third-party supplies.
Failure by the affected companies to pay the fines will lead to a three-month suspension of their operations.
In the case of Andev Co. Ltd., it will pay a total fine of GH¢90,000. This comprises GH¢10,000 for violating UPPF regulations and GH¢10,000 each for eight (8) counts of making false UPPF representations to the Authority.
Beap Energy is to pay a total fine of GH¢20,000, comprising GH¢10,000 for violating UPPF regulations and GH¢5,000 each for two (2) counts of third-party supplies.
For BF Petroleum, the company will pay a total fine of GH¢95,000. This constitutes GH¢10,000 for violating UPPF regulations, GH¢5,000 each for ten (10) counts of third-party supplies and GH¢5,000 each for seven (7) counts of lifting petroleum products without cross-zonal authorisation.
Anasset Co. Ltd. is to pay a total fine of GH¢50,000. This comprises GH¢10,000 for violating UPPF regulations, and GH¢10,000 each for four (4) counts of making false UPPF representations to the Authority.
Another company, Cost Energy, is to pay a total fine of GH¢665,000 comprising GH¢10,000 for engaging in third-party supplies and GH¢5,000 each for one hundred and thirty-one (131) counts of third-party supplies.
Compass Oleum Ltd. will pay a total fine of GH¢350,000. This constitutes GH¢10,000 for violating UPPF regulations, GH¢5,000 each for fifteen (15) counts of lifting petroleum products without cross zonal authorisation and GH¢5,000 each for fifty-three (53) counts of engaging in Third Party supplies.
Concord Oil Ltd. is to pay a total fine of GH¢65,000. This comprises GH¢10,000 for violating UPPF regulations, GH¢5,000 each for four (4) counts of engaging in third-party supplies and GH¢5,000 each for seven (7) counts of lifting petroleum products without cross-zonal authorisation.
The NPA cautioned that any company that fails to comply with the approved rules and regulations stipulated by the Authority will be subjected to further sanctions.
The UPPF ensures that prices of petroleum products are the same across the country.
