Business News of 2014-07-04

'TOR will never be for sale under Mahama’s watch'

Minister of Energy and Petroleum Emmanuel Armah-Kofi Buah says government is still keen on boosting the operations of Tema Oil Refinery despite challenges it faces with regard to machinery.
He said government is bent on making the state refinery one of the leading refineries on the continent of Africa.
Mr Buah made these remarks on Thursday, July 3 when he swore in new members of the Refinery’s board of governors.
The new board is chaired by Dr John Frank Abu. Members include Bona Siriboe, Arnold Seshie, Joseph Anyimah, Jessie Jacinto, Kweku Kessie and Gloria Edem Ofori.
The rest are Vincent Nartey and Dr. Alphonse Kwao Dorcoo, the acting Managing Director.
The Minister of Energy and Petroleum, who administered the oath of office, charged the members of the board to ensure that TOR sticks to its primary operation.
“Tema Oil Refinery’s job is not to operate crude procurement facility [but to] refine crude oil.”
There have lately been agitations within staff over TOR's operations. Members of staff complain that the company has refined crude oil only twice in 2014, laying the blame at the doorstep of the former board.
“Tema Oil Refinery is not for sale and it will never be for sale under the watch of President Mahama,” Mr Buah insisted, adding that all efforts will be put into uplifting operations of the refinery.