An energy consultant, Dr. Yussif Sulemana, wants government to consider partnerships with the private sector to develop the energy industry, whilst reducing the rising debt.
According to him, a vibrant partnership and good leadership are key factors to ensuring proper management of the energy sector.
He believes investments in the Tema Oil Refinery in 2003 sustained the industry for seven years, hence the need for stronger investments in the industry.
“With the way forward, I think we need two ways. Vibrant partnership into the refinery to inject some amount of capital with the configuration of the current refinery, Residue Fluid Catalytic Cracking (RFCC); the RFCC is known as the cash cow. They call it cash cow because whatever is churned out is the byproduct of the primary unit and then fed into the RFCC. Bear in mind, the RFCC was able to pay its debt within a period of seven years.”
Furthermore, he said “they started operating in 2003; by 2009 it had paid 90% of its debt. It’s just unfortunate that after 2010, the refinery run into serious problem. For the past two years, that RFCC has not run.”
“We need leadership. Leadership commitment is vital. A committed leader on this matter is key on getting the refinery back on its toes,” he said.
Latest Stories
-
‘There is something mysteriously amiss somewhere’ – Gabby Otchere-Darko on ‘dumsor’
9 mins -
Sean ‘Diddy’ Combs: What we know about the accusations against him
22 mins -
Education giant Excel-Plus Education set to host 2024 Study Abroad Fair at Accra City Hotel
25 mins -
Newmont unites communities through sports as it hosts intercommunity football gala in Akyem
32 mins -
Telecel Ghana and Huawei sign new framework contract to provide better network experience
43 mins -
Hotter countries generate more food waste per capita in households
46 mins -
Kwaku Antwi-Boasiako: Eunuchs and Homosexuality
49 mins -
NIC and partners commit to improve insurance coverage through inclusive insurance
58 mins -
Thieves ransack Obuasi Hospital Medical Superintendent’s residence
1 hour -
Kenya: Safari Rally to be Extended to Five Days
1 hour -
Rebel Wilson lost her virginity at 35; hopes to spread a ‘positive message’ by sharing her story
2 hours -
I applied for speedy hearing of injunction application by Dafeamekpor – Attorney General clarifies
2 hours -
Sarkodie, Keche, Yvonne Nelson, other celebs angered by Tema General Hospital power outage
2 hours -
Kenya – Strengthening Healthcare: World Health Organization (WHO) Donates 940 Tablets for Health Emergency Response
2 hours -
BoG appoints Dr. Joseph France as advisor for management of UMB
2 hours