NPA lifts ban on eight BDCs/OMCs

The National Petroleum Authority (NPA) has lifted the ban it placed on 8 Oil Marketing Companies and Bulk Distribution Companies (BDCs) which engaged fraudulent activities that led to the loss of tax revenue to the government.

Chief Executive Officer of NPA Mr. Hassan Tampuli who disclosed this, said the decision was taken by the Governing Board of NPA after appeals from the suspended companies.

“The Board of Governors granted the appeals from the suspended companies hence their return to operations,” he said in response to a question posed to him as to why Agapet is operating when it has been suspended.

It would be recalled that NPA last month suspended Union Oil Ghana Limited, Agapet Limited, Excel Oil Company Limited, Misyl Energy Company Limited and Globex Energy Company Limited, Petro Afrique Company Limited, Life Petroleum Company Limited and Unique Company Limited for allegedly engaging in tax evasion.

A statement from the NPA on the matter said the companies have been suspended for between one and three months.

The suspension took effect on 18th July, 2018.

The NPA said the suspension was “for their involvement in activities that led to the loss of tax revenue to the Government of Ghana.”

It warned the companies not to engage in any “sale, supply, transportation, discharge and receipt of petroleum products for the duration of their suspension.”

The companies who were handed a 3-month suspension include Petro Afrique Company Limited, Life Petroleum Company Limited and Unique Company Limited.

The NPA further urged the public to desist from engaging the services of any of the sanctioned companies.

However, the suspended companies have resumed full operations following the lifting of the ban.