The National Petroleum Authority (NPA) has imposed penalties on seven Petroleum Products Marketing Companies (PPMCs) for a range of violations related to the Unified Petroleum Pricing Fund (UPPF) regulations.
These companies have been found guilty of offenses such as violating UPPF regulations, making false UPPF representations to the Authority, and engaging in third-party supplies. As a consequence, they now face substantial fines and potential operational suspensions for non-compliance.
Companies implicated in this action includes Andev Co. Ltd, Beap Energy, BF Petroleum, Anasset Co. Ltd, Cost Energy, Compass Oleum Ltd, and Concord Oil Ltd.
Andev Co. Ltd is set to pay a total fine of GHS90,000.00, which includes GHS10,000.00 for UPPF regulation violations and GHS10,000.00 for each of the eight counts of false UPPF representations to the Authority.
The NPA has emphasized its commitment to enforcing regulations to ensure that prices of petroleum products remain consistent throughout the country.