The National Petroleum Authority (NPA) has fined nine oil marketing companies GH¢2.2 million for engaging in illicit third-party trading of petroleum products, and unlawful lifting of petroleum products.
Third-party delivery occurs when an oil marketing company supplies petroleum products to a retail outlet or bulk consumer not registered by the Authority under the company while unlawful lifting is lifting petroleum products from an unregistered or unauthorised bulk supply point (depot) without any valid documentations resulting in tax evasion.
The affected companies are Bello Petroleum, Jas Petroleum, Oval Energy, Kros Energy, Safety Petroleum and Santol Energy.
The rest are Riseglobe Energy, Sayon Energy and Cigo Energy.
A statement issued by the NPA in Accra yesterday said all the companies were found to have engaged in both illegal activities.
Detailing the fines, it noted that Cigo Energy was fined GH¢725,000 comprising GH¢30,000 for engaging in third party supplies for the second time and GH¢695,000 for the unlawful lifting of petroleum products.
The statement said Sayon Energy was fined GH¢425,000 comprising GH¢10,000 for engaging in third party supplies for the first time and GH¢415,000 for unlawful lifting of petroleum products.
It stated that Bello Petroleum was slapped with a fine of GH¢120,000 comprising GH¢10,000 for engaging in third party supplies for the first time and GH¢110,000 for the unlawful lifting of petroleum products.
Jas Petroleum, it noted, was expected to pay a fine of GH¢65,000 comprising GH¢10,000 for engaging in third party supplies for the first time and GH¢55,000 for the unlawful lifting of petroleum products.
The statement said Oval Energy would also pay a fine of GH¢245,000 comprising GH¢10,000.00 for engaging in third-party supplies for the first time and GH¢235,000 for the unlawful lifting of petroleum products.
It added that Kros Energy was sanctioned to pay a fine of GH¢295,000 comprising GH¢10,000 for engaging in third party supplies for the first time and GH¢285,000 for the unlawful lifting of petroleum products.
Safety Petroleum, the statement said, would pay a fine of GH¢200,000 comprising GH¢10,000 for engaging in third-party supplies for the first time and GH¢190,000 for the unlawful lifting of petroleum products.
It noted that Santol Energy would pay a fine of GH¢75,000 comprising GH¢10,000 for engaging in third-party supplies for the first time and GH¢65,000 for the unlawful lifting of petroleum products.
“Riseglobe Energy has been sanctioned to pay a fine of GH¢65,000 comprising GH¢10,000 for engaging in third-party supplies for the first time and GH¢55,000.00 for the unlawful lifting of petroleum products,” the statement added.
BY TIMES REPORTER
