Audio By Carbonatix
Government says troubled Tema Oil Refinery will soon see a major facelift as the taskforce set up to investigate the challenges of the company is set to present its report for action.
The team drawn from various ministries and oil sector agencies including the Finance Ministry and the National Petroleum Authority is expected to address revenue losses at the refinery and ensure it’s able to refine oil from the Jubilee Oil fields.
Energy Minister Emmanuel Armah Kofi Buah disclosed this when he addressed a forum in Accra early today.
He said TOR is putting in measures to ensure "issues of technical loses are reduced in a way that allow them to be profitable, that allow them to meet the benchmark that has been set by petroleum revenue management that will make sure that money is paid quickly...by law the money must be in the petroleum holding fund in 30 days".
He said it is the vision of President Mahama that appropriate steps are taken to ensure that TOR has enough capital.
"We will get TOR to that level that TOR will not only produce but expand to meet our demand and to be able to take advantage of the oil that is being produced here, and I believe we are going to get there."
Mr. Buah says recommendations on turning around the operations of the refinery will soon be considered by Cabinet.
Meanwhile, completion of the first phase of the gas processing plant at Atuabo in the Western Region may take a while longer.
This is because government was unable to pay Chinese contractors working on the project on time.
Mr Kofi Buah however says the government is committed to completing work on the plant.
He assured that latest by February next year the plant should be operational.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Mad rush for GH¢15 KFC deal as massive queues hit branches nationwide
5 minutes -
Firefighters contain raging fire at Labadi Wireless
14 minutes -
Photos: Police engage religious leaders at National Police Headquarters
25 minutes -
Gov’t invests GH¢443m in Free Primary Health Care – Dr Asare Bampoe
1 hour -
ECG announces power outages in parts of Accra West and Central regions
1 hour -
Otumfuo calls for urgent action to end maternal deaths in Ghana
1 hour -
Prioritise Bawumia’s interest and vote on merit – NPP elder urges delegates Â
1 hour -
Jason Arday death ‘tragedy on so many levels’ says PM
2 hours -
Rotary Club donates phototherapy machine to Ussher Hospital
3 hours -
Analysis: Jason Arday’s death will send shockwaves through a divided academia
3 hours -
CJ’s vacation warrants not limited to politically sensitive cases – Victoria Bright
4 hours -
Parts of Accra to experience power interruption on Sunday for emergency GRIDCo tower restoration
4 hours -
Dafeamekpor defends Ayine’s handling of Aksa case, faults past AGs
4 hours -
Luv FM High School Debate: Afigyaman, OKESS seal Round of 16 spots in style
4 hours -
Dafeamekpor urges Parliament to stay out of Aksa probe, backs expert-led inquiry
4 hours