NPA Archives - Page 3 of 4

21 Mar

National Petroleum Authority Responds To Fameye’s Fuel Outcry

wontumionlineShowbizFameye, NPA

The National Petroleum Authority (NPA) has responded to Fameye’s alleged encounter at an undisclosed filling station where his car was filled with adulterated petrol. Earlier, the highlife singer took to social media to bitterly lament about how his Honda Pilot 2019 model, has since been faulty after it was filled with water mixed with petrol. In a tweet on Wednesday, 15 March 2023, the rapper narrated how he had already spent a whopping GHC7,000 to repair the vehicle’s damages but to no avail. “So, few days ago, I go buy fuel for one fuel station, GHS700, the rest is heartbreaking. They…

16 Mar

NPA Boss Touts Ghana Downstream Operations Successes At Africa Refiners’ Week

wontumionlineBusinessDr. Mustapha Abdul-Hamid, NPA

Dr. Mustapha Abdul-Hamid, Chief Executive of the National Petroleum Authority (NPA) has highlighted regulatory measures it has implemented to ensure stability across Ghana’s downstream sector, following the global oil and gas market volatility caused by the Russian-Ukraine war and energy transition-related policies. Speaking during a presentation at Africa Refiners and Distributors Association (ARDA) Week 2023, which is currently taking place in Cape Town, Dr Abdul-Hamid called for increased cooperation between African countries and players within the downstream sector, and between private and public sector institutions to ensure security of energy supply and affordability. “For the first time in 30 years,…

23 Feb

Gold-4-Oil: Only OMCs With Not Less Than 45 Outlets Will Receive Products – NPA Boss

wontumionlineBusinessDr. Mustapha Abdul-Hamid, NPA, OMC

The Chief Executive of the National Petroleum Authority (NPA) has said the NPA in consultation with the Association of Oil Marketing Companies (AOMCs) has come up with a criteria for the distribution of the next consignment of petroleum products that has been imported under the Gold for Oil (G4O) programme. Dr Mustapha Abdul-Hamid said this is to ensure that the impact of the G4O programme is felt by consumers across the country, while addressing the concerns of the AOMCs regarding a lack of clarity regarding the allocation of products supplied under the programme to its members. The criteria takes into…

08 Feb

NPA To Drag 47 Omcs To Court For Non-Payment Of PDM Collected

wontumionlineBusinessNPA, OMC

The National Petroleum Authority (NPA) has announced that it is set to drag 47 Oil Marketing Companies (OMCs) to court on February 22, 2023 for Non-Payment of debts. These are levies that the OMCs have collected on every litre of fuel sold to consumers as Primary Distributors Margin (PDM) over the years. The authority in a statement also maintained that failure to pay the debt on the set date will result in a publication of the names of the directors behind these companies, as well as the amount owed. NPA sanctions 30 OMCs The National Petroleum Authority (NPA) on January…

19 Jan

NPA Sanctions Four OMCs For Illicit Trading

wontumionlineBusinessNPA, OMC

The National Petroleum Authority (NPA) has sanctioned four Oil Marketing Companies (OMCs) for engaging in illicit third-party trading and unlawful lifting of petroleum products. Per the sanction, Finest Oil will pay a fine of ₵160,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and ₵150,000.00 for the unlawful lifting of petroleum products. Failure by the company to comply will attract an additional one (1) month’s suspension of its operations. In the case of Petro XP, it will pay a fine of ₵340,000.00 comprising ₵10,000.00 for engaging in third-party supplies for the first time and ₵330,000.00 for the…

12 Jan

NPA Revokes Licenses Of 30 Oil Marketing Companies

wontumionlineBusiness, NewsNPA, OMC

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

11 Jan

Oil Marketing Companies Owe Government ¢400m – Dr Abdul-Hamid

wontumionlineBusinessBono Regional Coordinating Council, Dr. Mustapha Abdul-Hamid, National Petroleum Authority, NPA, OMCs

Oil Marketing Companies (OMCs) in the country owe the government more than ¢400 million, Dr Mustapha Abdul-Hamid, the CEO of the National Petroleum Authority (NPA), has stated. The debts, he said are in the form of taxes stressing it was rather unfortunate that “the OMCs don’t want to pay taxes.” Dr Abdul-Hamid said this when he inaugurated the newly refurbished 60-seater capacity conference hall of the Bono Regional Coordinating Council (RCC) in Sunyani, funded by the NPA through the Authority’s Corporate Social Responsibility fund. He said although God had blessed the country, the bad attitudes of many Ghanaians remained the bane…

02 Dec

NPA Increases UPPF, BOST Margins On Fuel

wontumionlineBusinessfuel, NPA, Unified Petroleum Price Fund, UPPF

The National Petroleum Authority (NPA) has directed Oil Marketing Companies (OMCs) and other players to increase the Unified Petroleum Price Fund (UPPF) and the Bulk Oil Storage and Transportation (BOST) margins on fuel from, December 1, 2022. A letter from the NPA seen by Joy Business instructed the OMCs to increase the UPPF margin from 36 pesewas to 47 pesewas on every liter of petrol and diesel sold at the pumps. In addition, the UPPF for Kerosine, LPG and Premix fuel have all gone up by 11 pesewas. According to the NPA, the increase is needed to ensure that, freight rates reflect…

09 Nov

Fuel Prices To Be Reduced Next Week – COPEC

wontumionlineBusinessChamber of Petroleum Consumers, COPEC, fuel prices, NPA

The Chamber of Petroleum Consumers (COPEC) has announced that fuel prices are likely to be reduced by Monday, November 14, 2022. There has been a recent hike in fuel prices, including diesel and petrol. Diesel is currently selling for more than GH¢23, while the price of petrol is hovering around GH¢18. But speaking to Roselyn Felli on Prime Morning, on Wednesday, the Executive Secretary of the Chamber, Duncan Amoah, indicated that measures are being put in place to help subsidise the rising prices. “We will be expecting diesel to drop from GH¢23 to somewhere around GH¢21.19, and the petrol will also…

31 Oct

NPA Boss Mustapha Hamid Adjudged Public Sector CEO Of The Year

wontumionlineNewsDr. Mustapha Abdul-Hamid, NPA

The CEO of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid has for the second time emerged as the ‘public sector chief executive officer’ for the year 2022 at the Ghana Business Awards in Accra. He was adjudged same award for the year 2021 for his sterling leadership, achievement, business excellence and professionalism at the Ghana CEO Excellence awards. The ceremony which sought to celebrate the achievements of individuals and companies who have distinguished themselves in the sector in the year under review also saw the NPA receiving excellence in corporate social responsibility of the year. Organised by Globe Productions Limited, the award…