AOMCs to push for a freeze on issuance of new license to regulator OMCs
The Association of Oil Marketing Companies [AOMCs] has said they are working hard to push for a freeze on the issuance of new licenses to oil firms in the sector.
The move by the AOMCs has been described as inimical to the industry.
Chief Executive Officer of the Association, Kwaku Agyemang Duah, in an interview noted the move by the Association is to bring sanity into the industry.
“The numbers are increasing in some way that we even at some point in time, we wanted to tell NPA that look, why don’t you halt the issuance of licenses and let’s do a house cleaning exercise before you continue because its like anybody thinks you can be in the industry and that shouldn’t be,” he said.
He added that the entry requirements which is the barrier into the industry is low, thereby giving the opportunity for others to easily get into the industry.
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He further mentioned that the current measure being undertaken by the Association is with regards to due diligence on the part of the Association because it should be their own members who have grown and want to be independent that should go for a license.
“We have made attempts on that, in fact we have made that proposal to NPA, the recent one they are going on with is at the behest of our request. And although the barrier is high, people are still entering and so probably we need to look at other things.
“Now we looking at issues of due diligence, you know, because if the people who go for the licenses are some of our own people who have grown to the extent that they think they want to independent, then they go for the licenses,” he said.
