Tag: NPA
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NPA approves 2-month removal of Price Stabilisation, Recovery levy to reduce fuel prices
The National Petroleum Authority (NPA), has approved the removal of the Price Stabilisation and Recovery Levies (PRSL) on petrol, diesel, and LPG for two months. This was announced in a press statement issued by the Authority’s Corporate Affairs Department today, October 11, 2021. “The National Petroleum Authority (NPA) wishes to inform the public that His…
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Increase petroleum imports from Ghana – NPA boss to sole Burkinabe importer
In a bid to improve petroleum products trade between Ghana and Burkina Faso, the National Petroleum Authority (NPA) is reviewing the export and transit arrangements with Societe Nationale Burkinabe d’Hydrocarbures (SONABHY). SONABHY is the only institution mandated by law to import and distribute petroleum products in Burkina Faso. The review is to among other things…
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Ghana to assist Sierra Leone on petroleum downstream regulation
The National Petroleum Authority (NPA) has offered to assist its counterpart in Sierra Leone, the Petroleum Regulatory Agency (PRA), to improve efficiency in regulating the petroleum downstream in that country. In furtherance to this, a team from the NPA, led by its Chief Executive, Dr. Mustapha Abdul-Hamid paid a working visit to the Executive Chairman…
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NPA reduces fuel prices by 8 pesewas per litre
The National Petroleum Authority (NPA) has reduced the margin on the price of fuel by 8 pesewas per litre. Following the implementation of the newly-reviewed taxes on fuel, the margin on prices of petroleum products went up by 17 pesewas per litre. But the NPA, after a meeting with stakeholders in the industry, reduced the…
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NPA launches fuel monitoring system to seal revenue leakages
As part of efforts aimed at eliminating illicit activities associated with the transportation and effective distribution of petroleum products across the country, government has introduced the National Retail Outlet Fuel Monitoring System. The system will also help reduce revenue losses within the petroleum downstream sector. Already, data from the National Petroleum Authority, NPA, show that…
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NPA invites aggrieved tanker drivers for meeting over their concerns
The National Petroleum Authority (NPA) has invited the National Petroleum Tanker Drivers Union for a meeting to deliberate on concerns raised by the Union. Fuel tanker drivers held a press conference on Monday, October 19, 2020, to complain about some issues affecting them and demanded government’s intervention. They among other things complained about police harassment…
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We’ll keep checking fuel stations to protect consumers – COPEC insists
The Chamber of Petroleum Consumers, COPEC, has justified its decision to check the amount of fuel dispensed to consumers at various fuel stations. The Association of Oil Marketing Companies, OMCs, has criticized the act accusing COPEC of usurping the powers of the National Petroleum Authority, NPA, and the Ghana Standards Authority, GSA, which are mandated…
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Finance Minister commissions digital petroleum measurement project to boost Gov’t revenue
In order to realize its full revenue from various tank farms across the country, the Ministry of Finance and the Ghana Revenue Authority in collaboration with Strategic Mobilization Company, has commissioned a digital downstream petroleum products measurement project in Tema. Speaking at the commissioning ceremony, Finance Minister, Ken Ofori-Atta, said the new system will address…
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IES urges BOST to use increased margin to boost its operations
The Institute of Energy Security (IES), which had backed calls by the Bulk Oil Storage and Transportation Company, BOST for an increase in the BOST margin, has welcomed the increment of the BOST Margin in the price build-up of petroleum products. The IES says it expects BOST to use the marginal increase prudently for the…
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Fuel prices go up slightly as BOST margin increases – NPA
Consumers of petroleum products should be paying an additional three pesewas per litre for the fuel they purchase at the various pumps from June 1, 2020. According to the National Petroleum Authority, NPA, this follows an increase of the BOST Margin in the price build-up of petroleum products. Currently, a litre each of petrol and…