The National Petroleum Authority (NPA) has with immediate effect suspended eight Oil Marketing Companies (OMCs) and Bulk Distribution Companies (BDCs) from operating, beginning July 18, 2018.

According to the NPA, the companies were involved in activities that led to the loss of revenue to the government of Ghana.

The suspension ranges between one and three months, depending on the extent of the company’s offense.

Five companies comprising Union Oil, Agapet Limited, Excel Oil, Misyl Energy and Globex Energy Company Limited have all been suspended for one month each.

In addition, Petro Afrique, Life Petroleum and Unique Company Limited have been suspended for 3 months each.

The CEO of the NPA, Hassan Tampuli in an earlier interview stressed the outfit’s readiness to clamp down on illegal activities.

The crime is reported to have cost the state about 200 million dollars between 2016 and 2017.

“I have had to recently sign letters to deal with people who are still doing under-declaration but it looks like it is not deterrent enough. So we are going to put all the defaulters before the disciplinary committee of the NPA board and by the time that we are done with this process I’m sure that people will wake up. This is because it is not going to be business as usual. I am assuring the defaulters that all measures will be taken to bring the roof down.”

While cautioning the public to desist from doing business with the affected companies, the NPA has also cautioned the companies to desist from engaging in the sale, supply, transportation, discharge and receipt of petroleum products for the duration of their suspension.

citibusinessnews.com