Petroleum business Sierra Leone now to register

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Sierra Leone has ordered all businesses dealing in petroleum and petroleum products to register as part of a new directive aimed at ensuring not just regular but also affordable access to the commodity.

The Petroleum Regulatory Agency (PRA), in a statement did not however specify any penalty but said concerned businesses which failed to adhere to its directive will face the “full penalty” in accordance with the law.

According to APA, the PRA was created by an Act of Parliament in 2013 charged with licensing and regulating petroleum business activities in the country.

Those in focus include the oil marketing companies, retail outlets, distributors, operators of road tankers, and even importers of lubricants and marketing and sales agents of petroleum products.

A proliferation of players in the industry has left the consumer population at the mercy of the dealers who sometimes charge unreasonable fees for their products.

The seeming lack of regulation has also been blamed for recurrent shortages in petroleum products, particularly fuel, which has resulted in public outcry.

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