Gov't Is Working Extensively To Revamp Tema Oil Refinery — Petroleum Minister

As part of Governments effort to revamp Tema Oil Refinery (TOR) back to its former glory, Petroleum Minister, Dr. Emmanuel Armah-Kofi Buah together with a delegation from the Ministry of Petroleum and the National Petroleum Authority (NPA) met with the Board of Directors of TOR in Tema on Thursday, January 21st 201 6 to discuss the progress of work done so far with respect to the comprehensive restructuring process currently being carried out at the company.

A statement issued in Accra on Monday and copied to the Ghana Broadcasting Corporation, (GBC) said Dr. Armah Kofi Buah, addressing the Board of Directors and Management of TOR, urged them to work hard to ensure that the restructuring process is completed on time. 

The statement which was signed the Head of Communications at the Ministry of Petroleum, Edward Abambiri Bawa said Dr. Buah also stated that the Ministry of Petroleum has set as a priority for 2016, the resumption of operations of the refinery. 

It said he further emphasised the need for management to have a clear road map for the revival of the company: "A fully operationalised TOR is key for a deregulated downstream sector" he added.

Chief Executive Officer of TOR, Mr. Awuah-Darko in his presentation assured the Minister and his team that by June, TOR will be fully operational. That’s according to the statement.

The statement said the board chairman of TOR, Dr. John Frank Abu thanked the Minister for his continuous support and reassured him of the board's commitment to restore TOR.

“According to the CEO of NPA, Mr. Moses Asaga, the NPA is also mandated to promote investment in the downstream sector hence restructuring TOR plays a key role in attracting more investment in the downstream sector. The NPA is a statutory Agency regulating, overseeing and monitoring the petroleum downstream industry in Ghana to ensure efficiency, growth and stakeholder satisfaction.”

“Tema Oil Refinery (TOR) Limited is Ghana's only refinery established in 1 963 to enhance the country's economic, investment and development programs.” It concluded.


GBC