Business News of Tuesday, 17 August 2021
Source: 3news.com
2021-08-17
National Petroleum Authority
The National Petroleum Authority (NPA) has sanctioned some Bulk Oil distributing companies (BDCs).
The licenses of these companies have been withdrawn.
This is due to their inability to meet the license requirement for them to continue to operate in the industry.
The NPA however did not on the names and the number it has withdrawn.
Head of Pricing at the NPA, Abass Tasunti said the NPA intended to send a signal that unfit BDCs are not allowed to operate in the industry.
“NPA is not going to allow any company to go against the law so we are here to make sure that everyone plays by the rules.
“ The law is being enforced. If you look at our market, the information we have put out you see some changes there.
“It is a reflection of some of the actions NPA is taking. If you speak to industry payers they will tell you some of the actions taken, so the NPA is actually taking action s to make sure that at least activities that go against natural business are not allowed to go unnoticed.
“NPA takes action every year but NPA has taken a number of action against companies that are involved in illicit activity,” he told Joy news.