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ACEP accuses OMCs of engaging in cartelization

aminThe Africa Centre for Energy Policy, ACEP, is alleging Oil Marketing Companies are already engaging in cartelization under the fuel price liberalization regime.

According to the Executive Director, Mohammed Amim Adam the current situation where GOIL – the government-owned Oil Marketing Company is the only dealer with the lowest prices should be a matter of concern.

Mr. Adam adds that in the case of GOIL which is a state company, government may have asked it to reduce its prices in a bid to influence the other OMCs to reduce their prices.

“Cartelization is happening – except that because it is criminal it is done secretly – secret cooperation” and until you go into their books and assess their data, you cannot tell but you can read implicitly that there is some arrangement.

He is therefore asking the National Petroleum Authority – NPA to allow Oil Marketing Companies in the country to adjust their prices daily rather than the newly introduced weekly adjustments based on the exchange rate. This according to him although would bring about some regular marginal changes, would go a long way to help address the phenomenon of cartelization.

The centre is also calling on the National Petroleum Authority to build its capacity to enable it detect possible connivance.

“Criminal activities have people who can detect them – we are not and that is why we are saying that the NPA should device a means monitoring and detecting such crimes because it is in the law. But if it is in the law and you don’t find them, how do you punish them,” he questioned.

Source:  http://businessdayghana.com/acep-accuses-omcs-of-engaging-in-cartelization/

 

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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