News
30 OMCs’ Licenses Revoked For Noncompliance
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 were affected.
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 affected 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.
In an earlier meeting with the Board members of the Association of Oil Marketing Companies (AOMCs), the NPA’s Chief Executive, Dr. Mustapha Abdul-Hamid, warned that the Authority would not hesitate to revoke the licenses of industry players who flouted the rules, according to a statement from the NPA.
It said that the NPA had been lenient with industry participants who broke the regulations throughout the years, which had provided many more people the chance to break the laws with impunity.
At the meeting with the Board members, Dr. Abdul-Hamid was cited as stating:
“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”
To that effect, he explained to the oil marketers that it was in their own best interests for the market to be properly regulated because their firms would also fail if the industry failed.
Conclusion
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