NPA revokes licenses of 30 Oil Marketing Companies

The National Petroleum Authority (NPA) has revoked the licenses of 30 Oil Marketing Companies (OMCs) for breaching regulations.

Some of the OMCs are said to owe the government over ¢400 million cedis in the form of unpaid taxes by the end 0f 2022.

A list of the companies published by the NPA said the licenses of the “OMCs have been revoked for non-compliance with the rules and regulations of the authority on acquisition and maintenance of their licenses”.

The NPA cautioned that it will bear no liability for any loss or damage that may be suffered by any person who chooses to engage with the affected OMCs in whatever capacity.

“The General Public is hereby warned that engaging with the affected OMCs is at their own risk”, it added.

NPA

The NPA stated that these companies had up until the end of September 2022 to settle these debts.

The authority warned that failure to settle these debts will result in the publishing of the names of the directors and shareholders of these companies in the national dailies.

It also indicated that it will not hesitate to take the necessary legal against the directors of these firms as an additional action.