Pulse.com.gh logo
Go


Tema Oil Refinery TOR shuts down again over crude oil shortage

The Executive Director of the Institute of Energy Security, Kwasi Anamua Sakyi, explained that TOR is currently unable to raise its own letters of credit to acquire crude oil.

  • Published:
Tema Oil Refinery (TOR) play

Tema Oil Refinery (TOR)

The Tema Oil Refinery (TOR) has shut down again due to the shortage of crude oil at the facility.

In an interview with Accra-based Citi FM, the Executive Director of the Institute of Energy Security, Kwasi Anamua Sakyi, explained that TOR is currently unable to raise its own letters of credit to acquire crude oil.

“From the desk of IES, what we are picking is that they have run out of crude oil. Last two weeks ago, the primary plant, being the crude distillation unit was shut down for lack of crude oil so the atmospheric residue that was installed was still being fed into the RS 50…That also got finished last week and the plant had to be shut down as well, so both the CDU and the RCC as we speak are down.”

READ ALSO: Here is how much Nana Addo earns every month after tax

“There is no feedstock. The information we are picking is that TOR is having challenges with the suppliers to feed them with the crude oil that is required to run the plant.”

Mr. Anamua Sakyi, therefore, called for the privatization of TOR in order to reduce the level of inefficiencies in its operations.

“We are calling for private participation because the money to invest in the refinery is quite huge. For instance, you know that we are moving to a lower Sulphur grade in Africa and it requires that the refinery desulphurizes its system."

READ ALSO: Invest $300m into TOR or privatize it - Alex Mould

“Introducing this de-sulphurising unit alone will cost more than $120m. Apart from that, they need to introduce  new boilers, they need to introduce additional furnace, and so investment must get to an optimum level where they can say it is running well  and it can give us more money.”

The refinery, which has the capacity to refine about 45,000 barrels of crude oil a day, has been operating below capacity for some time now.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Ponzi schemes in Ghana These investments are Ponzi schemes in Ghana, so...bullet
2 How to make money online Online jobs; how to make money on YouTube in...bullet
3 Donor Support World Bank injects $60m into Ghana’s energy, tourism...bullet
4 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
5 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Education Top 5 private high schools in Ghana according to WAECbullet
8 Menzgold Ghana Investment company closes down its Gold...bullet
9 Number 12 Panic withdrawals hit savings & loans company...bullet
10 Cost of Fuel IES predicts increase in fuel prices this...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 Plane Crash Starbow suspends operations following plane crashbullet
4 Tech 6 reasons you should buy an iPhone SE instead of any of the...bullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 New Discovery Ghana discovers new mineral, lithium in...bullet
7 Support Finance minister buys Kantanka carbullet
8 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
9 New Phone Nokia’s MWC 2018 event in 7 minutesbullet
10 New Phones Nokia MWC 2018 Event in 5 minutesbullet

Business