ModernGhanalogo

FEATURED: Just In: Supreme Court Stops Justice Wuni From Hearing Ken Agyapong’s ...

body-container-line-1
15.07.2009 Business & Finance

TOR to deal with only 33 OMCs

By gna
Listen to article

Accra, July 13, GNA – The Tema Oil Refinery (TOR) will soon deal with only members of the Association of Oil Marketing Companies (AOMC) for the distribution of petroleum products as part of efforts to inject discipline into the sector.

The measure forms part of a major policy statement on the oil industry to be announced by the National Petroleum Authority (NPA) and TOR to regulate operators in the industry, an oil industry source told the Ghana News Agency in Accra on Monday.

According to the source, there are over 56 registered Oil Marketing Companies but only 33 are members of the Association of Oil Marketing Companies.

TOR, in the midst of the recent fuel shortage that hit the country, said it had stopped supplying fuel to 10 out of 56 oil marketing companies for failure to adhere to financial terms with the refinery.

The 33 companies to benefit from the new policy are: Total Petroleum Ghana Limited, Ghana Oil Company Limited, Shell Ghana Limited, Agapet Oil Company Limited, Allied Oil Company Limited, Dukes Petroleum Company Limited, Galaxy Oil, Merchant Oil, Star Oil, Universal Oil, and Virgin Petroleum Ghana.

Others are: Unity Oil, Sky Petroleum Limited, Havilah Oil, AP Oil and Gas Company, Anasset Gas Company, Capstone Oil Company, Champion Oil, Top Oil, Strategic Energies, Superior Oil, So Energy Ghana, Sonnidom Energy Limited, and Obiba J. K. Company.

The rest are: Oando Ghana, Nasona Oil Ghana, Manbah Gas Company, Kaysens Gas Company, Glory Oil Company, Frimps Oil Company, Fraga Oil Company, Excel Oil Company, and Engen Ghana Limited.

In an interview with the Ghana News Agency, Mr Kwaku Agyemang-Duah, Industry Co-ordinator of Association of Oil Marketing Companies of Ghana, described the measure as a better way to strengthen the marketing business.

He said whilst not all marketing companies are members of the AOMC for varying reasons, the association still represented the largest national governing body of the network marketing industry and therefore it was able to provide the most accurate (although modest) reflection of national growth and sales figures for the industry.

Mr Agyemang-Duah said although it was not a requirement for all network marketing companies to become members of the Association, members stood to benefit from cooperate recognition.

He called on oil marketing companies who are yet to register with the association to come on board, for “in unity lies strength”.

GNA

Powered By Modern Ghana
body-container-line