GOIL challenges NPA over the latter's naming and shaming publication.

Management of Ghana Oil Company-GOIL says it is surprised at the National Petroleum Authority's decision to publish its name as part of Oil Marketing Companies, OMC's that are not in good standing.

The authority in the today's edition of the Daily Graphic listed some companies in the oil business that have failed to comply with some licensing and financial obligations.

The companies numbering 24 include 19 Oil Trading Companies, 3 Oil Marketing Companies, 1 Petroleum Product Export Companies and 1 Bunkering Company. The authority in the publication noted of plans to withdraw the licenses of these companies.

GOIL was named amongst the Oil Trading Companies that are defaulting but the Acting Managing Director of GOIL, Chris Ackumey explains to Joy Business that the NPA got it wrong.

“At the beginning of each year, NPA writes to us about how much we are supposed to pay for yout license. But we have not been given any notice of any sort. Last year when they gave us the notice we paid" he said.

"But this year , we have not been advised as to what to pay, that's why we have not paid irrespective of the fact that we are not using the Oil Trading license we still would have paid if we had the demand agreement” he noted.

Story by Emmanuel Agyei / Nana Agyei Essuman - Joy Business