As the Tema Oil Refinery stands accused by the Institute of Energy Security (IES) of incurring a loss of 24 million dollars in revenue thanks to a drop in global prices of refined products.
The minority spokesperson on Mines and Energy in Ghana’s parliament, Adams Mutawakilu, says an invitation has been extended to the leadership of TOR to appear in parliament explaining why there’s need for new refinery in Prampram despite low global crude oil prices with TOR producing below its maximum capacity.
Hon. Mutawakilu also wants to know the faces behind the Greenfield Facility to be sited at Prampram. He asked why there has been little or no civil society engagement on the projects, wondering if the Greenfield Facility folks are also the transaction advisers.
The Managing Director of the Tema Oil Refinery (TOR), Isaac Osei had reported that US$3.5 billion is needed for its modern refinery; Greenfield Facility to be situated at Prampram.
He noted with the activation of the facility, the state can get up to 150,000 barrels of crude oil a day adding there are plans to also retool the existing refinery at Tema to produce 60,000 barrels a day from its current 45,000 daily barrels.