OMC Archives - Wontumi Online

01 Aug

Fuel Prices Go Up; Petrol, Diesel Selling At ₵12.95 Per Litre

wontumionlineBusinessGhana, Goil, OMC

Some Oil Marketing Companies (OMC) have started increasing prices of petroleum products at the pumps from August 1, 2023. GOIL is selling a litre of petrol at ₵12.95 from its previous price of ₵12.40. Diesel is also selling a litre at ₵12.95 from its old price of ₵12.45. The increase can be attributed to the sudden increase in prices of finished petroleum products on the international market as well as some supply issues on the world market. Some industry watchers say this is the biggest hike in prices of finished petroleum products on the international market since January 2023. The…

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…

01 Feb

Petrol, Diesel Now Sell At ¢15.25, ¢15.90 Per Litre At Pumps

wontumionlineBusinessCOPEC, Goil, GPRTU, OMC

Some Oil Marketing Companies(OMCs) have started increasing prices of petroleum products at the pumps from today, Wednesday, February 1, 2023 as anticipated. One of the market leaders, GOIL, is now selling a litre of petrol at ¢15.25, from the previous ¢13.60. Diesel on the other hand is going for ¢15.90 per litre, from the previous ¢15.52. Other OMCs are expected to follow suit by announcing new fuel prices later today. Ahead of the announcement of increases in fuel prices today, the Institute for Energy Security (IES) predicted between 7% and 13% jump in the prices of petrol, diesel and Liquefied…

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…