Managing Director of Tema Oil Refinery (TOR) has urged the government that Ghana’s crude oil should be refined into the Tema refinery for local consumption.
Isaac Osei said that currently, Ghana National Petroleum Corporation exports all of the oil to abroad. TOR has to purchase crude oil which it used to make products after refining for local use. The scenario reduced the advantage which Ghanaians can enjoy on a commercial scale. They can get the real benefits of crude oil if government authorizes state-owned TOR to refine the oil for consumption. Ghana’s government should take steps to make a proper structure to supply crude oil from Jubilee, TEN, and Sankofa oil fields to Tema Oil Refinery.
TEN, crude oil transferred to TOR for purification in the past. It has also provided good benefit to locals in terms of finished products. Tema Oil Refinery has proper boilers to process the type of oil extracted in our country, he further said. A former official from government said that if we use TOR then it will enhance Ghanaians confidence that they had the potential to use their own resources. However, the government needs a precise financial model and proper funding from investors.
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