The Chamber of Bulk Oil Distributors has amended the billing system of the secretariat. This is a shift from the current throughput-based regime.
Per the new regime, Bulk Import, Distribution and Export Companies (BIDECs) are required to pay an annual fee of USD30,000 which is now included in the annual licence renewal fee which has been reduced from USD400,000 to USD330,000 payable to the National Petroleum Authority (NPA).
The old billing regime was approved to cover January 01 to June 30, 2020 invoices while the new fixed fee covers July 01 to December 31, 2020. This decision was reached by members at a meeting a few months back.
