Head of Research at the Chamber of Petroleum Consumers Ghana (COPEC-Gh), Benjamin Nsiah, believes a fully operational Tema Oil Refinery (TOR) can see to the reduction of fuel prices by ten percent (10%).
The Tema Oil Refinery (TOR), which is Ghana’s first and only refinery has not been operational for a while due to some challenges.
Several Civil Society Organizations such as the Chamber of Petroleum Consumers and the Africa Centre for Energy Policy (ACEP), had been at the forefront of calls on the government to do all it can to get the refinery back on its feet.
The Energy Minister, Dr. Matthew Opoku Prempeh, during a tour of the refinery, expressed the government’s commitment to ensure the facility is up and running as soon as possible.
There have been suggestions that the continuous redundancy of TOR may lead to human capital challenges.
“I also think it is time the Energy Ministry sits up. It is long overdue for TOR to function but it is still not operational. Since the shortage of fuel started on the international scene, the Ministry has always promised us TOR is going to work but we are yet to see it. If TOR starts working today, our fuel prices can be reduced by 10 percent,” he told Don Kwabena Prah on Happy98.9FM’s ‘Epa Hoa Daben’ political talk show.
Prioritizing the tooling of TOR by injecting capital resources is the way to go for COPEC as they say, “we need to inject some capital into TOR for the retooling, repair or replacement of dilapidated machinery. If TOR is also suffering from managerial problems, then we need efficient managers who can change things in the shortest possible time. A fully functional TOR is good for our economy.”
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