Tag: OMC
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NPA sanctions seven OMCs for illicit fuel distribution
The National Petroleum Authority (NPA) has sanctioned seven Petroleum Products Marketing Companies (PPMCs) for illicit distribution of petroleum products. They are to pay fines for violating of Unified Petroleum Pricing Fund (UPPF) regulations, making false UPPF representations to the Authority, and engaging in third-party supplies. Failure by the affected companies to pay the fines will…
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Fuel pricing: COPEC predicts marginal drop in first window of June 2023
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a marginal decline in the prices of fuel in the first pricing window of June 2023. COPEC attributes this projection to the relative stability of the forex rates although the international market benchmark prices of crude oil haven’t been that favorable. The Chamber is further predicting…
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Cylinder recirculation: LPG Marketers to lay off workers if sidelined
About seven thousand (7000) members of the LPG Marketing Companies Association are expected to lose their jobs if government fails to integrate the association into the cylinder recirculation policy. The LPG Marketing Companies Association has been calling for an automatic migration onto the new policy. The Vice-Chairman of the LPG Marketers Association, Gabriel Kumi disclosed that the layoffs will be the…
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New diesel sulphur content rules to take off tomorrow
Effective Saturday, July 1 2017, all imported diesel into Ghana should have a minimum sulphur content of not more than 50 million parts per million, barring any last minute changes. This follows the implementation of the new regulation by the National Petroleum Authority (NPA). A study by the African Centre for Energy Policy (ACEP) and…
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Fuel prices to remain fairly stable in May
Fuel prices will remain fairly stable in the first pricing window in May. This is a prediction by the Institute for Energy Security (IES). According to the institute, the slight fall of Brent crude price, stability of the fuel stock levels among other factors will ensure the stability of fuel prices. The IES further hints…
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Illegal fuel importers cost GH¢850m loss annually – NPA
The National Petroleum Authority (NPA) has disclosed that Ghana loses about 850 million cedis annually in taxes, due to the increased activities of fuel smugglers into and out of the country. The illegal act is said to involve operators who ply their business at the ports by fuelling tanks with fuel products brought into the…
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Petrol, diesel prices to go up by 3 percent next week
The Institute of Energy Security (IES) has predicted a 3 percent increase in fuel prices next week. According to the Institute, due to current developments around the world, it is likely prices for the next pricing window will go up. “If you look at the crude oil price at the world market, the cedi dollar…