A former head of the Integrated Centre for Democratic Development, ISODEC, Bishop Akolgo, has expressed concern about the reported shutdown of the Tema Oil Refinery (TOR).
TOR shut down yesterday over the lack of crude, as managers of the facility were unable to raise letters of credit.
[contextly_sidebar id=”1tfaeOS9TXfp20yIdXtGmZPx4Nhs39PA”]But the Institute for Energy Security (IES), suspects the closure is a deliberate attempt by the government to convert TOR into a tank farm, for the setting up of a new refinery in the Western Region.
Speaking to Citi News at a training workshop on illicit financial flows, Bishop Akolgo said the investments made into TOR should not be wasted.
“I don’t think it is strategically right for the government to run TOR down. In this day and era we should be looking at the local market, which is about 60,000 barrel a day, we should look at West African Market, so having the second refinery should not be based on our local consummation, we should be looking at west African and Africa consummation, we should continue to retool TOR and if there is a chance to have a second refinery lets have the second one,” he said.
In January this year, Government has announced an ambitious plan to build a new oil refinery to replace the Tema Oil Refinery (TOR) within the next three to four years.
Energy Minister, Boakye Agyarko, who disclosed this says the new facility should increase the supply of refined products in Ghana.
The announcement comes days after the Institute of Energy Security (IES) warned of the possible impact on fuel supply should the government fail to resolve TOR’s operational challenges.
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By: Farida Yusif/citinewsroom.com/Ghana