TOR to be given free hands to price petroleum products

Read Comments Comments (6)

• Obenfo 12 years ago

  A situation where you have no control over the price at which you buy your raw material, and how much you can sell your finished products is tough busness and can only be discussed in Ghana.
  
  Prices of crude oil change on N ...
  read full comment

  A situation where you have no control over the price at which you buy your raw material, and how much you can sell your finished products is tough busness and can only be discussed in Ghana.
  
  Prices of crude oil change on New York Mercantile Exchange every second which means TOR cannot determine how much to buy crude oil next week if TOR doesn't hedge its oil purchases. On the other hand Ghana Gov't determines how much petrol must be sold in the market for the sake of political expediency. Meanwhile, Gov't drags its feet when it comes to reimbursing TOR for its losses; that's a tough business to manage!
  
  Now that government is taking its fingures off TOR's affairs, we will know how effective of a manager the CEO is, else I will lobby for his expulsion and take over the ranks of governing TOR.

  reply
• Anomaboba 12 years ago

  Long overdue brother. First good news since Mahama on power. It will also attract investors.

  Long overdue brother. First good news since Mahama on power. It will also attract investors.

  reply
• AMARIYA 12 years ago

  It needs a minimum operating capital to be become autonomous. This would be achieve 4 to 6 month from now.

  It needs a minimum operating capital to be become autonomous. This would be achieve 4 to 6 month from now.

  reply
• Iron 12 years ago

  WOW this Mahama and the Ndc really mean business. Who knows maybe things are going to change for the better for real.Let's wait and see.

  WOW this Mahama and the Ndc really mean business. Who knows maybe things are going to change for the better for real.Let's wait and see.

  reply
• Kwame 12 years ago

  Practically it has been proved that we can produced industrial products at a low cost. From the above, it means that since crude oil refining is also an industrial activity we can refine crude oil at a low cost comparable to ...
  read full comment

  Practically it has been proved that we can produced industrial products at a low cost. From the above, it means that since crude oil refining is also an industrial activity we can refine crude oil at a low cost comparable to Europe, U.S. and other countries.
  Producing industrial products as a low cost is the reason why we have free export zones. Take for instance the private sector produces sachet water. The inefficiency in that sector is reflected in the pricing of sachet water, that it is sold at the same price not depending on which company produces it.
  We have been told that the private sector involvement in crude oil refining will bring about efficiency, however some state factories that have been sold to private companies remain years none-operational. It means that since that private company is a large producer in her country and does not want competition it comes in to buy the factory and seat on it to prevent it to compete with it.

  reply
• staff - TEMA 12 years ago

  Mr.Minister for Energy, giving TOR free hand to fix prices will not solve TOR's peculiar problem. The solution is that there should be a Government/private partnership to run TOR properly. The Government alone cannot run TOR ...
  read full comment

  Mr.Minister for Energy, giving TOR free hand to fix prices will not solve TOR's peculiar problem. The solution is that there should be a Government/private partnership to run TOR properly. The Government alone cannot run TOR. The manipulations, infiltrations,etc will always be there since it is state-owned. The NDC Government should to take a bold a decision. Successive governments have failed to take this decision. The time is now. Thank you.

  reply