Economy

TOR: Latest shutdown to enhance efficiency

The Tema Oil Refinery has downplayed reports of the latest shutdown of its refinery.

According to the Managing Director, the plant has been shut temporarily to allow for maintenance works aimed at enhancing efficient operations.

The Ghanaian Times newspaper reports that the plant has not been operating because the Ghana National Petroleum Corporation has not been able to supply it with any crude oil.

But Managing Director Ato Ampiah tells Joy Business the lack of crude should not be blamed on any institution.

He explains that TOR has changed for the better since he took over.

He said the planned shut down was to ensure improvement for other jobs to be done.

“We have decided that in order to get this plant profitable we should try to produce at capacity or above.

“We wanted to make sure that our operations are commercially profitable and economically viable and therefore make the plant more competitive on the market than before.

“The idea was also to ensure that our losses are cut down and unit cost of production dropped,” he explained.

According to him the plant will be back in a week after maintenance and “it will be more efficient than before.”

The Tema Oil Refinery has been refining crude oil supplied by the GNPC for months now because it has been unable to buy its own crude as a result of its financial difficulties.

Source: Joy Business/Myjoyonline.com/Ghana

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