{"id":62879,"date":"2023-12-22T18:39:44","date_gmt":"2023-12-22T18:39:44","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=62879"},"modified":"2023-12-22T16:15:20","modified_gmt":"2023-12-22T16:15:20","slug":"we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml","title":{"rendered":"We are collapsing illegal trade of a cartel in petroleum sector \u2013 SML"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Management of \u2060Strategic Mobilization Ghana Limited (SML) has said that their operations are collapsing the illegal trade of a cartel in the oil ring.<\/b><\/p>\n

The company says that they are aware that the cartel is fighting to undermine the Government\u2019s fight against illegalities in the petroleum sector.<\/p>\n

SML said this while refuting the claims made about its operations in a recent documentary compiled by the Fourth Estate.<\/p>\n

The Fourth Estate in a report published on December 18 said its investigations have disproved wild claims by SML Company that it had helped to save Ghana billions of cedis that would have been lost in the downstream petroleum sector but for its intervention.<\/p>\n

The company also tried to justify why it receives up to GH\u20b524 million monthly payments from the government of Ghana in a questionable contract it signed with the Ministry of Finance and the Ghana Revenue Authority (GRA).<\/p>\n

The Fourth Estate, however, revealed that the company, with the help of a section of Ghana\u2019s media, had made false and unsubstantiated claims of its operations that have served as the basis for the payment it received. It appears the Ministry of Finance and the GRA were aware the claims were false, for some officials of the GRA said they had confronted the company about its claims of savings and volumes on two separate occasions.<\/p>\n

A few hours after the reporters confronted the management of SML with the findings of the investigation and asked for a response, the major services it claimed to render to the government disappeared from the company\u2019s website.<\/p>\n

The investigation also uncovered that at a time players in the downstream petroleum sector were questioning the relevance of SML\u2019s involvement, the Minister of Finance, Ken Ofori Atta, initiated a more outrageous deal that would entitle the company to over $100 million every year for the next 10 years.<\/p>\n

But SML in a statement said \u201cThe documentary represents a set of misrepresentations, false claims, and a general lack of understanding on the entire operations of the company.<\/p>\n

\u201cWe challenge Fourth Estate to produce any contract anywhere that is for a 10-year period. The 5th PPA Board at its 46th Board meeting in a letter referenced PPA\/CEO\/09\/2286\/23 approved a contract duration of five (5) years.\u201d<\/p>\n

Below is their full statement…<\/p>\n

STATEMENT BY SML ON THE DOCUMENTARY BY THE FOURTH ESTATE ON THE YET TO BE OPERATIONALIZED CONTRACT ON UPSTREAM PETROLEUM PRODUCTION AND MINERALS AND METALS RESOURCES VALUE CHAIN<\/b><\/p>\n

The company has taken note of a documentary that has been aired by the fourth estate\u2019s team and places these on record.<\/p>\n

\u2060We are aware of the heightened efforts by the Cartel in the oil ring whose illegal trade is being collapsed and is fighting to undermine Government\u2019s fight against illegalities in the petroleum sector.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The Management of \u2060Strategic Mobilization Ghana Limited (SML) has said that their operations are collapsing the illegal trade of a cartel in the oil ring. The company says that they are aware that the cartel is fighting to undermine the Government\u2019s fight against illegalities in the petroleum sector. SML said this while […]<\/p>\n","protected":false},"author":84,"featured_media":62877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[5092,5096,429],"class_list":["post-62879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nWe are collapsing illegal trade of a cartel in petroleum sector \u2013 SML - Ghana<\/title>\n<meta name=\"description\" content=\"The Management of \u2060Strategic Mobilization Ghana Limited (SML) has said that their operations are collapsing the illeg ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We are collapsing illegal trade of a cartel in petroleum sector \u2013 SML\" \/>\n<meta property=\"og:description\" content=\"The Management of \u2060Strategic Mobilization Ghana Limited (SML) has said that their operations are collapsing the illeg ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-22T18:39:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/12\/sm_1703248875.111387.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1676\" \/>\n\t<meta property=\"og:image:height\" content=\"1115\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"We are collapsing illegal trade of a cartel in petroleum sector \u2013 SML\",\"datePublished\":\"2023-12-22T18:39:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml\"},\"wordCount\":490,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/12\/sm_1703248875.111387.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/we-are-collapsing-illegal-trade-of-a-cartel-in-petroleum-sector-sml\",\"name\":\"We are collapsing illegal trade of a cartel in petroleum sector \u2013 SML - 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