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Tag Archives: IES

TOR targets full production by year end

Isaac Osei - MD, TOR

The Tema Oil Refinery (TOR) is hoping to restore the burnt furnace at the plant, to increase its production to full capacity, by the end of this year – 2018. This is to improve the profitability of the oil refinery to be competitive in the industry. The Managing Director of TOR, Isaac Osei disclosed this plan to Citi Business News ...

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Consumers demand disclosure on petroleum price stabilization levy

FUEL-STATION

Pressure is mounting on government to come clear on the implementation of the price stabilization levy on petroleum products. Industry watchers argue that consumers risk being shortchanged, if the regulators fail to regulate the application of the levy. The comments come in the wake of marginal rise in the prices of petroleum products for the first two weeks (1st to ...

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Fuel prices to rise by 2% in February – IES                                                                             

FUEL-STATION

Prices of fuel may go up by 2 percent in the first pricing window in February, between February 2, 2018 and February 15, 2018. However, a swift intervention from government through the National Petroleum Authority (NPA)’s price stabilization mechanism could keep prices stable. The Institute of Energy Security (IES) which revealed this, further attributes the development to the constant rise ...

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IES cautions of fuel crisis over unit shutdown at TOR

TOR

The Institute of Energy Security (IES) wants the government to intervene and get the Tema Oil Refinery (TOR) back to work. The IES believes this will largely be resolved with strengthening of the leadership of the facility. TOR has seen numerous setbacks in its operations with the recent being its Crude Distillation Unit (CDU). The Unit which commenced operations on ...

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Consumers seek NPA intervention as fuel prices rise

Executive Secretary for the Chamber of Petroleum Consumers, Duncan Amoah

Citi Business News has gathered that prices of fuel have gone up at some pumps effective Tuesday, January 16, 2017. This follows an earlier prediction by the Institute of Energy Security (IES) that prices will go up by between 3 and 5 percent. According to the IES, the development can be attributed to the increase in crude oil prices, the ...

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Fuel prices to increase between 3 and 5%

Fuel pump nozzles are pictured at Helios petrol station in Almaty

Prices of fuel are expected to go up by between three and five percent for the second pricing window in January. The second pricing window period spans from Tuesday, January 16, 2018 till the end of the month. According to the Institute of Energy Security (IES), the development can be attributed to the increase in crude oil prices, performance of ...

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Analysts urge private sector involvement in TOR

TOR

Analysts in the oil and gas sector are upbeat about government’s plans to revamp operations of the Tema Oil Refinery (TOR). Though they have largely lauded the move, the industry watchers have suggested the need to attract private sector participation in order to achieve the full objectives. The comments also follow recent fuel shortage and its impact in Neighbouring Nigeria. ...

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Revamp TOR to reduce petroleum imports – IES

oil block

The Institute of Energy Security (IES) has urged government to work to revamp the Tema Oil Refinery (TOR) in order to reduce the country’s over dependence on imported fuel. The IES argues that the development has dire implications should there be threats of cuts in supply. The comments come on the back of shortage of fuel in Nigeria for at ...

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Nigeria’s fuel shortage not to affect Ghana – ACEP

Benjamin Boakye - Executive Director of ACEP

The Africa Centre for Energy Policy (ACEP) has ruled out any impact of the fuel shortage in Nigeria on Ghana. The energy think tank explains that Ghana’s decision to review downwards, its sulphur content for imported petroleum products, limits it from importing fuel from Nigeria. Nigeria has for the past three weeks been hit with fuel shortages particularly in Lagos ...

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Fuel prices to remain unchanged till year end                                                                                 

FUEL-STATION

Fuel prices are expected to remain stable at the pumps for the second pricing window of December. This means that fuel prices will remain unchanged till the end of the year. The Institute of Energy Security (IES) who predicted this attributed the development to a relatively insignificant change in oil prices at the global market. “We are not expecting any ...

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Ghana Business News