By: Fred Yaw
Sarpong
The
Tema Oil Refinery (TOR) bounces back after it was close down a year ago for restructuring,
Daily Express has learnt.
Mr.
Awuah-Darko gave the assurance when the Minister for Petroleum, Mr. Emmanuel Armah-Kofi
Buah paid a visit to the company.
The
Minister led a delegation from his ministry and the National Petroleum
Authority (NPA) to TOR and other refineries to know what is going in his sector.
According
to Mr. Awuah-Darko TOR is running at a low capacity, however the company is
ready to be on it fit to commence operation. There are numerous benefits the
nation can derive from TOR.
The
sector Minister, Hon. Buah announced Governments effort to revamp the Tema Oil
Refinery (TOR) back to its former glory.
The
delegation was received by the Board of Directors of TOR and both parties
discussed the progress of work done so far with respect to the comprehensive
restructuring process currently being carried out at the company.
The
Minister urged the Board of Directors and the Management of TOR to work hard to
ensure that the restructuring process is completed on time.
He
also stated that the Ministry of Petroleum plan is to make sure that TOR start
full operation this year. He emphasized the need for TOR management to have a
clear road map for the revival of the company. “The full operationalization of
TOR is key for a deregulated downstream sector,” he added.
The
Board Chairman of TOR, Dr. John Frank Adu thanked the Minister for his
continues 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.
He
said the NPA is a statutory agency regulating, overseeing and monitoring the
petroleum downstream industry in Ghana to ensure efficiency growth and
stakeholder satisfaction.
Last year, the workers of Tema Oil Refinery (TOR) agreed to
commits 20% of their November salaries into the operation of the company.
Initially management decided to spread the 20% for a maximum
of four months (5% per a month), however, the workers proposed 20% to be taken
from their November salaries.
Tema
TOR Refinery (TOR) Limited is Ghana’s only refinery established in 1963 to
enhance the country’s economic, investment and development programs.
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