The Tema Oil Refinery (TOR) is questioning the basis for Woodfields Energy Resources’ conclusion that there is a shortfall in its product volumes held in its tanks.
According to TOR, it is improbable to arrive at such a conclusion since “at no point in the ongoing product material balance between TOR and Woodfield has any shirtfall beebn established.”
In March, management of Woodfields refuted reports that the petroleum company owes TOR an amount of $5 million.
In a statement issued by the company, the oil and gas holding group said such reports seek to tarnish the good reputation the company has built over the years.
That statement further pointed out certain shortfalls in product volumes held in tanks at TOR to the tune of about $5.7 million.
But TOR has vehemently resisted this assertion in a press release of its own describing it as erroneous.
“Tema Oil Refinery, therefore, rejects, in no uncertain terms, the erroneous impression being created by Woodfield that it has caused such a shortfall in their products in TOR tanks,” the March 31 response read.
The statement signed by TOR’s Corporate and Public Affairs Manager added that it will, however, not resort to ways that will mar the relationship between both entities.
“TOR values the professional relationship established with Woodfields and all our clients and will therefore not resort to ways that will jeopardize same,” the refinery added.
Latest Stories
-
Nigeria’s facial scars: The last generation
4 hours -
‘Put our taxes to good use’ – Agbogbloshie traders urge AMA to desilt clogged drains
6 hours -
Deliver textbooks for basic schools before end of second semester – GNAT President tells goverment
6 hours -
Ministry of Education signs contract with Publishers Association to print textbooks for basic schools
7 hours -
Philip Kyeremanteng: Why Achimota Forest must be reserved
8 hours -
I went through proper procedures to acquire my tigers – Freedom Jacob Caesar
8 hours -
Tension simmers at UEW as Governing Council Chairman directs Registrar to proceed on leave
9 hours -
Nana Kojo Quaidoo: NPP internal elections – Akoto factor still gathering momentum in Upper East Region
9 hours -
U-17 WWCQ: Ghana beats Morocco 2-0 to claim first leg advantage
10 hours -
New Music: Kuami Eugene, Wendy Shay release new singles, Lojay features Chris Brown
10 hours -
Work to commence on Tumu-Han-Lawra Highway in June – UWR Minister
10 hours -
Cheddar’s Tigers are well secured – Forestry Commission
10 hours -
Who is Kelvin Taylor? – Yvonne Nelson quizzes
11 hours -
Eastern Regional Security Council disclaims video on alleged ritual murder
11 hours -
AIMS holds awe-inspiring Climate Science Speaker Series (CSSS) 2022
12 hours