A 250-million dollar plant, Residual Fluid Catalytic Cracker (RFCC) that would process residue of fuel at Tema Oil Refinery (TOR), is expected to be commissioned next September.
When it is in operational, Ghana would no longer export the 30 percent residual fuel at a give-away price as it is, presently, rather, it would be processed into Liquefied Petroleum Gas (LPG) gasoline and other lubricants, Mr Kan Dapaah, Minister for Energy disclosed on Monday at Tema. The building of the plant, which was started in year 2000, by SK Engineering and Construction Firm, a Korean company, is now doing test runs to ensure that everything is in order before commissioning.
He stated this at a press briefing after a tour of the plant, which also afforded him the opportunity to interact with the workers and more especially to congratulate the fire personnel who exhibited a good job to put out the fire during the recent fire outbreak at the near-by premises.
Currently, 45,000 barrels of crude oil is refined daily and 70 percent of TOR's product is used nationwide, while a small portion of the remaining 30 percent residue is used and the rest sold at take away price. He said high value would be added to the re-processing of the residual product and this is expected to earn between 100 and 120 percent and part of it would be exported to generate enough foreign exchange to enable TOR pay back the loan.
On fuel, Mr. Dapaah said that the government has no immediate plans to increase the price of fuel as speculated, however, fuel price in the global market could affect a change in the local price.
Touching on the 2.5 trillion cedis debt incurred by TOR, the Minister said the issue is still under discussion as to whether to pass it on to consumers, write it off, or make TOR handle its own debt. He, however, made it clear that when it is spilled over to consumers the effect would be frightening.
Mr. Robert Forson, Deputy Managing Director Operations, and a member of the Interim Management Committee (IMC), who led the Minister round the Plant, said TOR has increased its liability on the utility system to support emergencies so that they are not overtaken by events.
On the environment, he said, plans are advanced to build a secondary treatment plant to treat its effluent before discharging into the drains, which eventually enters the Chemu Lagoon. TOR and other companies were recently criticised for polluting the lagoon making it dead with their untreated effluent. Dr. Kwabena Richardson, Chairman of the IMC and Dr Ali Abugure, also a member of the IMC were among the Minister's entourage.
