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Ministry of Energy, TOR outline measures to revamp refinery

Ministry of Energy, TOR outline measures to revamp refinery

The Ministry of Energy has refuted claims by the Institute of Energy Security (IES) that sector minister, Dr. Matthew Opoku Prempeh has failed to facilitate the revamping of the Tema Oil Refinery (TOR).

The reaction comes after IES petitioned President Akufo-Addo to save the Tema Oil Refinery from imminent collapse.

TOR has been non-functional for more than three years.

In a press release, the ministry refuted the claims by the IES and further outlined some nine steps taken by the minister to revamp the company, including meetings with IMC, Board, Management and worker unions among others.

According to the statement, this is indicative of the president’s keen interest in revitalising the Refinery, creating jobs and positioning itself as market leader on the African continent.

Meanwhile in another press release, the Tema Oil Refinery also noted that some processes have been initiated to restart operations.

“A local transactional advisor has been contracted to lead the negotiations in formulating the lease agreement, which is expected to be completed in the next four weeks and an investment partner es expected to provide for a first phase, which will bring the Crude Distillation Unit (CDU) of TOR back on stream and refine about 45,000 barrels per day in the next few months,” the statement added.

Copy of press release by TOR

It concluded by adding that output from Phase One of this partnership project will be used to revamp the Residual Fluid Catalytic Cracker (RFCC) and other associated units of the Company, to maximize production by the Refinery.

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