NPA clears Globex Energy Limited to resume petroleum downstream activities

The National Petroleum Authority (NPA) has given the all green for Globex Energy Limited to resume business in the petroleum downstream.

The NPA suspended Globex Energy Limited together with other oil companies over suspected industry infractions.

In April this year, the NPA through its Chief Executive Officer, Mr Alhassan Tampuli, issued the affected companies with ultimatums to explain alleged under declarations, with Globex Energy specifically deemed to have under-declared returns on fuel the company loaded at the Tema Tank Farm. It said Globex Energy supplied 661,500 litres of diesel to Union Oil, instead of “at least 918,000 litres” in January 2018.

The NPA subsequently slapped a one month suspension on Globex, however the regulator has in a letter waiving the suspension, granted the company the entitlement to resume work in the Petroleum downstream.

According to the NPA per its letter announcing the decision, the waiver of the suspension has come as a result of Globex Energy’s own efforts at effecting corrective measures.

“In view of Globex Energy's reparative efforts, the Governing Board hereby waives the application of the one month suspension imposed on your company effective the date of this letter. Globex Energy is hereby entitled to resume all petroleum downstream activities that were hitherto suspended by the Authority”, said the letter signed by the CEO of NPA, Alhassan S. Tampuli.