Wednesday, 17 April

NPA suspends sale of Sentuo Oil Refinery fuel

Business
Oil

The National Petroleum Authority (NPA) has taken action by suspending the sale of fuel provided by Sentuo Oil Refinery, a Chinese-owned company, citing concerns over the alleged substandard quality of the product.

 

The decision to suspend operations comes in response to appeals from the Chamber of Petroleum Consumers (COPEC) and the Institute for Energy Security (IES) to halt Sentuo Oil Refinery's activities due to purported illicit practices.

In their joint statement, COPEC and IES raised alarm over the refinery's operation without the requisite permit from the NPA, as well as allegations of supplying inferior fuel to the Ghanaian populace.

Highlighting the regulatory framework established by the NPA Act 2005, which mandates all entities involved in downstream sector commerce to obtain board approval prior to commencing operations, the statement emphasized that Sentuo Oil Refinery purportedly failed to obtain the necessary permits for oil processing and trading.

Despite ongoing discussions, Sentuo Oil Refinery remains under scrutiny for its compliance with regulatory standards and the quality of its fuel supply to consumers in Ghana.

 

Source: Classfmonline.com