Thirteen Oil Marketing C13 OMCs’ licenses are revoked by NPA due to debt.ompanies (OMCs) have had their licenses terminated by the National Petroleum Authority (NPA).

It comes after the companies’ incapacity to pay off debts owing to industry regulators, including the Bulk Oil Storage and Transportation Company, the Ghana Revenue Authority, and the NPA.

It is reported that the amount of money exceeds GH₵200 million.

These are levies and margins on petroleum goods sold that have been collected, but the corporations have neglected to send the money to the relevant governmental organizations.

The Association of Oil Marketing firms’ chief executive, Riverson Oppong, pushed the NPA to pursue the firms’ directors in an interview with Joy Business.

He issued a warning, noting that the industry is delicate and that it needs to be closely examined to make sure that everyone abides by the laws.

“The NPA has the director data for these companies. The identities of the company’s directors are required by the NPA before any license is granted to any business. He emphasized that releasing these identities will drive out dishonest businesspeople from the sector.

Since several of the directors of the indebted OMCs are also controlling other OMCs in the business, he revealed that some of the debts were purposefully accumulated.

“There are other OMCs in their names that were founded by the same directors who also incurred same obligations. Why would the directors of the financially troubled companies allow other OMCs to operate in the system under their names, he asked.

Mr. Oppong declared that steps have been taken to prevent the accumulation of these debts.