IES urges government to revive TOR to reduce oil imports

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Tema Oil Refinery (TOR),
Tema Oil Refinery (TOR),

Institute of Energy Security (IES) has called on the government to revive the Tema Oil Refinery (TOR) believing that the country must focus on the local production of petroleum products by reviving TOR while encouraging private sector investments in the refinery business.

Government is currently seeking alternative fuel arrangements to ease pressure on the limited forex available in a novel gold-for-oil programme.

Nana Amoasi VII the Executive Secretary of the Institute of Energy Security who was speaking to Citi News said a fully functional TOR can drastically reduce the country’s oil imports and that Ghana has an existing Tema Oil Refinery that can produce 45,000 barrels per day that can meet almost half of our daily demand.

“Tema Oil Refinery is not going to give us only that assurance of fuel supply, it is also a ground to train our engineers.”

Nana Amoasi VII pointed out the continued neglect of the Tema Oil Refinery is due to the parochial interest of people who benefit from the importation of Crude.

He said: “We believe that it is not in the interest of some groups to see the TOR work. If that is not the case then the Energy Minister and the President would have been more focused on this arrangement than focus on gold for oil and put a value on somebody’s oil against your own crude.” he said.

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