Politicians inexperienced to manage TOR – IES

The Institute of Energy Security (IES) has said the current politicians managing the Tema Oil Refinery (TOR) are inexperienced to manage it.

This comes on the back of challenges in revamping the refinery which has not been functioning for years now.

Some stakeholders in the oil industry are kicking against the public private partnership to revamp TOR.

Commenting on the development on Morning Starr with Francis Abban, the Executive Director for IES, Nana Amoasi VII stated that the best way to revamp TOR is through partnership.

“To ensure that you have competent people running it, competent people managing TOR. Today the politicians that are managing TOR are not experienced and have no expertise. It means that they don’t even understand the fuel matters to even plan how they bring crude in and out.

“Since the creation of TOR, if you don’t have capital you cannot revamp the existing one and you cannot refine the fuel with the current standard. What you must do as owner of TOR if you don’t have the capacity to run you fall back to third party support,” Nana Amoasi VII stated.

According to him, if the government keeps the 100 percent stake that will mean it has agreed to keep the assert malfunctioning.

“Public, Private Partnership is everywhere and you can find it in many countries. For us at IES the common sense is to pick part of your equity to a private partner that is able to bring in the capital for you and bring the expertise to run it. Own a minority stake and show that you move from the realm of political management to proper management.”