The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi says products getting lost at the Tema Oil Refinery (TOR) is the tip of the iceberg.

Speaking on Joy FM's Top Story on Tuesday, October 5, 2021, he said the issue of product disappearance is nothing new since it happens under every government.

He is therefore not shocked by the latest development.

The CEO further added that, the refinery over time has been reporting on products not being accounted for.

“We have quite an interesting industry capable of running down an economy so I am not shocked at all. What you see the IMC doing is a remarkable job. This has been happening almost every time and you see these happenings in mainly the government-owned facilities.  

“When you pump fuel out of the BOST depot in Accra Plains to Akosombo, you will not get the full fuel there but when you pump water, it will get there perfectly. It is the same thing; we always have product losses,” he told host, Evans Mensah.

His comments come after the disappearance of 18 drums of electrical cables kept at the technical store house of TOR worth 10.4 million Ghana cedis.

The Interim Management Committee (IMC) of the Tema Oil Refinery (TOR) has since interdicted some members of staff over what it described as an unacceptable development.

Commenting on the indictment, Mr. Hosi commended the IMC saying: “they have done a remarkable job. It takes a certain measure of boldness to do what Mr. Anku and his team are actually doing. I saw it today and I was really shocked.”

He again stressed that TOR has no reason to be in this current situation since it has the largest infrastructure and is well positioned to be a market driver as far as storage facilities and industry support are concerned.