Consider privatizing TOR if you can’t manage operations – Government told

Tema Oil Refinery The Tema Oil Refinery (TOR)

Wed, 16 Dec 2020 Source: www.ghanaweb.com

Energy Consultant, Dr Yussif Sulemana, has admonished government to take into consideration privatizing the Tema Oil Refinery (TOR) in a bid to sustain its operations and profitability.

According to him, all options must be considered as the move would ensure that the refinery plays a significant role in Ghana’s petroleum and energy efficiency efforts.

In an interaction with Citi Business News, Yussif Sulemana explained, “If we think as a government, we cannot manage this critical infrastructure, let’s diversify. Let’s bring in private sector players to invest in the refinery. That is the way to go. But if we leave it as it is now, then we are going to go round the circle that will keep on changing managing directors”.

He continued, “Until we stop that interference, we are not going to see the refinery seeing the light of day. So, the refinery is on its knees basically because, one, the political leadership required for the refinery to run is not there. That political leadership is that the government of the day has to stop unnecessary interference in the day-to-day activities of the refinery.”

“In fact, government of the day has no business in the refinery, why? The private sector can do that. So, if you cannot allow the private sector to do that then don’t keep on changing Managing Directors up and down because it is still in government hands. As long as government is managing it, and government is not agreeing to give free space for operation to happen for the refinery to operate profitably, then, it’s going to be difficult,” he stressed.

Meanwhile, another expert in the energy sector, Duncan Amoah, says government must revamp the operations of the Tema Oil Refinery if it intends to boost investor confidence for its planned strategic petroleum hub.

Also, some union workers of the refinery have demanded the dissolution of the current board of TOR. The workers say the board and its management have shown very little commitment to the refinery's operations and a lack of a sense of urgency in improving the fortunes of the refinery.

Source: www.ghanaweb.com
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