Home   >   Oil & Gas   >   201209   >   Gov't to restart TOR with $30 million


Gov't to restart TOR with $30 million
 
Posted on: 06-Sep-2012         Source: myjoyonline.com
 
 
 
The Energy ministry has disclosed plans to inject $30mollion into the Tema Oil Refinery to enable it restart refining operations at the Residual Fuel Catalytic Cracker, (RFCC).

Deputy Minister Alhaji Inusah Fuseini disclosed that the move has become necessary after diagnostics study was undertaken at the TOR, showing the challenges faced by refinery.

He said additional detailed process audit will be required to further ascertain how the various challenges will be dealt with especially why 8% of the crude is lost in the process.

TOR had originally requested $67million to restart its operation but was asked to reduce its requirement, bringing the cash injection to $30million.

Alhaji Inussah Fuseini also disclosed that the detailed process audit will also expose who is to be held responsible for the inefficiency in the operation of the refinery; assuring the people of Tema and the nation of governments’ commitment.

Alhaji Fuseini blamed the debt inherited from the NPP administration as the major reason for the challenges facing the refinery adding that, though the late President Mills directed the payment of more than $1.5 billion of its debt, TOR had been unable to issue its own letters of credit.

He said the present predicament of the refinery had prompted series of meetings between the leadership of the refinery and other stakeholders, to find a lasting solution to the challenges of what he described as ‘critical strategic investment’.

Asked about if someone will be held responsible for the problems of the only refinery in the nation, the Deputy Energy minister said, that can only be done if the operations of the refinery are properly investigated and understood in order to properly identify those responsible for the problems.