The National Petroleum Authority (NPA) has revoked the licenses of 13 Oil Marketing Companies (OMCs) due to their failure to settle significant debts owed to industry regulators, including the NPA, the Ghana Revenue Authority, and the Bulk Oil Storage and Transportation Company. 

The total amount owed is reported to exceed US$200 million. 

These funds, collected as levies and margins on petroleum products sold, were not remitted to the appropriate state institutions by the defaulting companies.

Mr Riverson Oppong, the Chief Executive of the Association of Oil Marketing Companies(AOMCs), disclosed this development during an interview with Accra-based Joy Business.

 He urged the NPA to hold the directors of these companies accountable, emphasizing the importance of transparency and strict adherence to industry regulations.

The NPA has the details of the directors of these companies. 

Before a license is issued, the NPA requires the names of the directors.

 These names should be made public to ensure that bad operators are removed from the industry," Mr. Oppong stated. 

He also highlighted that some of the debts appear to be deliberately accrued, noting that some directors of indebted OMCs are also running other OMCs under their names.

"This raises concerns about why the directors of indebted companies are allowed to operate other OMCs in the industry," he added.

Mr. Oppong also mentioned that measures are being implemented to prevent such debts from accumulating in the future