Business News of Friday, 22 December 2017
The Chamber of Petroleum Consumers (CPC) has called for a complete “shutdown” of the Tema Oil Refinery (TOR) if it is not fit for purpose.
CPC Executive Director, Duncan Amoah said the inability of the refinery to operate at full capacity for years, is costing the country a lot of money.
Speaking to Joy News on Monday, he said the refinery should be closed down and the 3.00 pesewas charged for every litre of petrol purchased should be scrapped.
“I believe strongly that if the refinery is not going to be repositioned to work, it should be shut down,” he said.
Ghana’s main oil refinery has been reeling under challenges energy experts have blamed on poor management.
It faced several shutdowns in the past, but it was declared profitable in 2016, seven years after the start of its problems.
The refinery reportedly made a profit of $800,000 from its operations from February 16 to April 20, 2016.
But works at TOR have stalled once again for months for officials to embark on maintenance.
The Chamber of Petroleum Consumers has blamed the constant shut down of the facility on “inefficiency.”
Mr Amoah said some tank metals purchased for the refinery to open up its storage facilities are rotting.
“These things are left to rot away and they become debts in the books of TOR,” he said.
He has called for a “thorough forensic” audit of the operation of the refinery to ascertain the rot in the system.