The Institute of Energy Security (IES) has called on the government to revive the Tema Oil Refinery. TOR
Reaching a stable and affordable price for petroleum products has been difficult for successive governments. The current administration is seeking alternative fuel arrangements to ease pressure on the limited forex available in a novel gold-for-oil programme.
However, the institute is of the opinion that the nation should prioritize the domestic production of petroleum products by revitalizing TOR and promoting private sector investments in the refinery industry.
In an interview, Nana Amoasi VII, the Executive Secretary of the Institute of Energy Security said a fully operating TOR could significantly reduce the nation’s oil imports.
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“We have an existing Tema Oil Refinery that can produce 45,000 barrels daily 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.”
Furthermore, Nana Amoasi VII claimed that those who profit from the importation of crude are to blame for the ongoing neglect of the Tema Oil Refinery.
“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.”
Source: CITINEWS
