The Managing Editor for energynewsafrica.com, Michael Creg Afful, has commended the National Petroleum Authority (NPA) headed by Dr Mustapha Abdul-Hamid for sanctioning Petro XP for engaging in illegal trading.
NPA fined Petro XP Gh¢340,000 comprising Gh¢10,000 for engaging in third-party supplies for the first time and Gh¢330,000 for the unlawful lifting of petroleum products.
The NPA said if Petro XP failed to comply, it would attract an additional one (1) month’s suspension of its operations.
Commenting, Mr Creg Afful described the action by NPA as highly commendable and urged the NPA boss to continue to sanitise the industry to ensure that only those who can play by the rules operate.
It would be recalled that in June 2022, Mr Creg Afful petitioned the Special Prosecutor to investigate the Tema Oil Refinery (TOR) for selling 260,000 litres of slop oil to Petro XP Ghana Limited and K-Moy Ghana Limited which was not licensed to engage in the downstream petroleum business.
Sections 11(1) and (2) of the NPA Act, Act 691 stipulates that: A person shall not engage in a business or commercial activity in the downstream industry unless that person has been granted a licence for that purpose by the Board. The business or commercial activities of the downstream industry in respect of crude oil, gasoline, diesel, liquefied petroleum gas, kerosene and other designated petroleum products are (a) Importation, (b) Exportation, (c) Re-exportation, (d) Shipment, (e) Transportation, (f) Processing (g) Refining, (h) Storage, (i) Distribution, (j) Marketing, and (k) Sale.
Documents which were available to energynewsafrica.com showed that on 4th May 2022, TOR sold a total of 260 metric tonnes (260,000) of slop oil in their storage tank to K-Moy Ghana Limited and Petro XP Ghana Limited on a cash and carry basis.
Each received 130 metric tonnes of slop oil.
The case is still before the special prosecutor.
Source: https://energynewsafrica.com