By Dominic Hlordzi
There is disunity among the three Unions at the Tema Oil Refinery over talks to lease assets of the company for six years.
Energy Analyst, Dr. Yusif Sulemana, says government must ensure that the deal with Torentco Asset Management, TAM to revamp the Tema Oil Refinery, TOR must guarantee value for money and should not fail.
Torentco Asset Management is reportedly in talks with the government for an agreement on the operation of TOR. From information gathered on the deal, the facility will be leased for about six years, and the company is expected to invest about 22 million dollars to bring the refinery back to operation.
Dr. Sulemana hopes that the deal will not be similar to the PDS agreement with the Electricity Company of Ghana.
An investor, Torentco Asset Management (TAM), is reportedly in talks with the government for a deal to revamp the Tema Oil Refinery, TOR. From information gathered on the deal, the facility will be leased for about six years, and the company is expected to invest approximately 22 million dollars to bring the refinery back into operation.
For years, the government has been on the investment market looking for an investor to revamp the Tema Oil Refinery. Reports indicate that Torentco Asset Management may be the investor to partner with the government to revive the state-owned petroleum Refinery. Dr. Yusif Sulemana is an Energy Analyst.
Dr. Sulemana prays the deal will not be similar to the PDS agreement with the Electricity Company of Ghana which failed.
Some watchers of the downstream petroleum sector say the government is yet to settle on a particular investor as it is still engaging a number of investors.
The Tema Oil Refinery has the capacity to produce about 45,000 barrels of crude per stream day.