OSP probes five companies over suspected petroleum import irregularities

The Office of the Special Prosecutor (OSP) has launched a major enforcement operation targeting suspected irregularities within Ghana’s petroleum import sector, signaling a significant escalation in efforts to clamp down on financial misconduct in the industry.

Acting on a court-issued warrant, OSP investigators carried out coordinated searches across five fuel depots and associated facilities belonging to selected Bulk Distribution Companies (BDCs). The operation forms part of a broader, ongoing probe into alleged malpractice involving the importation and distribution of petroleum products in the country.

According to preliminary findings, the investigation centers on multiple suspected violations, including the under-declaration of imported petroleum volumes, the misclassification of fuel products during transfers between depots, and potential tax evasion schemes. These practices, if confirmed, could have resulted in substantial revenue losses to the state.

The OSP has also uncovered indications of possible collusion between certain BDCs and officials from key state institutions, including the National Petroleum Authority, the Ghana Revenue Authority, and the National Security Secretariat. Investigators believe some officials may have facilitated or overlooked irregular activities connected to unlawful financial gains.

Further suspicions point to the involvement of intermediaries who allegedly helped move funds through unauthorized and potentially concealed channels, raising concerns about money laundering and the integrity of financial oversight systems within the sector.

The companies currently under investigation include Platon Oil and Gas Ltd, Sentuo Oil, Akwaaba Oil, Sahara Oil and Gas Ltd, and Chase Petroleum Ghana Ltd. These firms are among several BDCs that play a critical role in the importation, storage, and distribution of fuel across Ghana.

During the operation, authorities reportedly seized a range of materials considered vital to the investigation, including financial records, transaction documents, and electronic data from company systems. The OSP has also identified and invited several individuals for questioning, classifying them as persons of interest as investigators work to piece together the full scope of the alleged scheme.

While the investigation is still in its early stages, the OSP has emphasized its commitment to pursuing accountability and ensuring transparency within the petroleum sector. Officials say additional updates will be made public as more evidence is analyzed and the inquiry progresses.

This latest action highlights growing scrutiny over Ghana’s fuel supply chain and reinforces concerns about regulatory compliance and revenue protection. If proven, the alleged activities could have far-reaching implications for both the companies involved and public sector institutions tasked with oversight.