The Executive Secretary of the Chamber of Petroleum Consumers Ghana, COPEC, Duncan Amoah has urged the Energy Ministry to ensure that all pending processes holding the private-public partnership for the recapitalization for retooling of the Tema Oil Refinery are advanced and signed as early as practicable ahead of the inauguration of the current MDA and the Board of Directors.
The Minister of Energy had secured a proposal from a potential private partner with private equity that combines debt management, capitalization for retooling, and continuous provision of crude oil.
However, one year down the lane there have been no results.
According to him, the delay has resulted in economic hardship.
“I’m quite aware of an initial arrangement between a private partner to turn the refinery to work.
What I’m also aware of is the over-politicization in and around the refinery has virtually collapsed that deal, so one wonders whether our politicians or those at the helm of affairs of making decisions are really enthused or interested in getting the refinery to work at all.
The Energy Ministry should answer this. Whoever constitutes the TOR board, the TOR management, and to date not insisted on KPI being met, not insisting on TOR getting back to refining would have to answer to all of us in this country, because it looks as though we would rather continue to pay workers, we’d rather continue to spend money on the refinery, Ghanaians will continue to pay TOR debt levy on every litre of fuel, ” He said.
