National Petroleum Authority Revokes Licenses of 30 Oil Marketing Companies

The National Petroleum Authority (NPA) has revoked the licenses of 30 Oil Marketing Companies (OMCs) for failing to follow the Authority’s rules and regulations regarding license acquisition and maintenance.

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 the companies 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 also among the companies.

Petro Afrique Ghana Limited, Precious Energy Ghana Limited, Q8 Oil (Gh.) Company Limited, Rigworld Petroleum Services Limited, Royal Roses Oil Company Limited, Titan Petroleum Limited, Union Oil Ghana Limited, Universal Oil Company Limited, Warren Oil Company Limited, and Zoe Petroleum Limited are the remaining companies.

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 and copied to the Ghana News Agency in Accra on Thursday.

It claimed that over the years, the NPA had been lenient with industry players who broke the rules, allowing many more to break the rules with impunity.

“We cannot all be conspiring to destroy our country and then turn around and blame the government for what goes wrong,” Dr. Abdul-Hamid was quoted as saying during a meeting with Board members.

He told the oil marketers that it was in their best interests in the market to be properly regulated because if the industry failed, their businesses would fail.

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