• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

NPA: Regulator revokes licenses of 30 OMCs for non-compliance

3 years ago
in Business, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
120
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

NPA: Regulator revokes licenses of 30 OMCs for non-compliance

The National Petroleum Authority (NPA) has revoked the licences of 30 Oil Marketing Companies (OMCs) for non-compliance with the rules and regulations of the downstream petroleum regulator on the acquisition and maintenance of their licences.

Among the non-compliance to the rules and regulations of the downstream industry, is the non-payment of taxes to the tune of over GHS 400m.

In a statement on Thursday, January 12, 2023, the NPA stated “it will bear no liability for any loss or damages that may be suffered to any person who chooses to engage with the affected OMCs in whatever capacity”.

At an earlier meeting with the board members of the Association of Oil Marketing Companies (AOMCs), the Chief Executive Officer of the NPA, Mustapha Abdul-Hamid, cautioned that the Authority would not hesitate to revoke the licences of industry players who continually flout the rules.

He indicated that over the years, the NPA had been lenient with industry players who flout the rules, which had given opportunity for many more to flout the rules with impunity.

“We cannot all be in a conspiracy to run down our country and yet turn round to and blame the government for what goes wrong”, Dr. Abdul-Hamid was quoted as saying at the meeting with board members.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

List of OMCs that have their licenses revoked

Gov’t owed GHS 400m in taxes by OMCs

Oil Marketing Companies (OMCs) in the country owe the government more than GHS 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 of the socioeconomic development of the nation.

“Change of attitude is required if we can build our nation,” Dr Abdul-Hamid stated, saying “we all have no choice but to contribute as little as we can because individual commitment is needed towards the holistic development of the nation.”

 

Tags: NPANPA: Regulator revokes licenses of 30 OMCs for non-complianceOMCs
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.