Petro XP, Finest Oil, 2 others fined GH¢595, 000 for various infractions
By DL News
Published
1 min read
According to a release by the Corporate Affairs Directorate of the NPA, Finest Oil would pay GH¢160,000.00 made up of GH¢10,000.00 for engaging in third-party supplies
Four(4) Oil Marketing Companies(OMCs) including Petro XP and Finest Oil have been fined a total amount of GH¢595, 000 by the National Petroleum Authority(NPA) for engaging in illicit third-party trading of petroleum products.
The other two are Gtasark Oil and Lilygold Resources Limited.
According to a release by the Corporate Affairs Directorate of the NPA, Finest Oil would pay GH¢160,000.00 made up of GH¢10,000.00 for engaging in third-party supplies for the first time and GH¢150,000.00 for the unlawful lifting of petroleum products.
Also, Petro XP would pay GH¢340,000.00 which comprises GH¢10,000.00 for its third-party supplies for the first time, and GH¢330,000.00 for the unlawful lifting of petroleum products.
Furthermore, Gtasark Oil is expected to pay GH¢95,000.00 comprising of GH¢10,000.00 for engaging in third-party supplies for the first time and GH¢85,000.00 for the unlawful lifting of petroleum products.
However, for Lilygold Resources Limited, the statement indicates that they would pay a fine not exceeding five times the license or permit fee for breaking the NPA’s seal.
It added that failure by these OMCs to comply with these fines would result in various sanctions including an additional one month’s suspension of its operations and suspension of its operating license respectively.
