The operational license of M3 Global Company Limited, an oil marketing company owned by Mustapha Musah Awuni, a businessman, and 29 others have been revoked by the National Petroleum Authority for non-compliance with the rules and regulations of the Authority on the acquisition and maintenance of the licenses.
The other affected companies are Abagurugu Oil Company Limited; Apex Petroleum Ghana Limited; Avos Oil Company Limited; Best Petroleum Limited; Bisvel Petroleum Services; Capstone Oil Limited; Deep Petroleum Limited; Deliman & Company Ltd.; Glee Oil Limited, and Golden Petroleum Limited.
Others are Green Petroleum Limited; Hak Oil Company Limited; Havilah Oil Ghana Limited; Hossana Oil Company Limited; Jas Petroleum Limited; Lilygold Energy Resources Limited; Maiga & Hhm Company Limited; Mba Global Petroleum Limited, and Peta Energy Limited.
The rest are Petro Afrique Ghana Limited; Precious Energy Ghana Limited; Q8 Oil (Gh.) Company Limited; Rigworld Petroleum Services Limited; Royal Roses Oil Company Limited; Titan Petroleum Limited; Union Oil Ghana Limited; Universal Oil Company Limited; Warren Oil Company Limited, and Zoe Petroleum Limited.
At an earlier meeting with the Board members of the Association of Oil Marketing Companies (AOMCs), the Chief Executive of the NPA, Dr. Mustapha Abdul-Hamid, cautioned that the Authority would not hesitate to revoke the licenses 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.
He told the oil marketers that it was in their own interest that the market was regulated properly, because if the industry collapses their businesses would collapse.
