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Tag Archives: TOR

Low funding keeps sulphur in diesel products from TOR high

Isaac Osei - MD, Tema Oil Refinery

It is emerging that the Tema Oil Refinery (TOR) will need some 300 million dollars before it could refine products to the current specified sulphur content for diesel of 50 parts per million. The development also puts consumers at risk as there are fears the products may have been in circulation at the various retail outlets. The revelation comes seven ...

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TOR targets full production by year end

Isaac Osei - MD, Tema Oil Refinery

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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Ghana Beyond Aid achieved yet?

President Akufo Addo 620x330

One of the key priorities of the NPP administration is to move ‘Ghana Beyond Aid’. The government has been tough on working to reduce the over-dependency on donor support for development. In the build up to President Akufo Addo’s State of the Nation Address on Thursday, February 8, 2018, Citi Business News takes a look at how far government has ...

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New refinery to attract investors if … – Analyst

General view of the Tema oil refinery near Ghana's capital Accra

The Executive Director of KITE, Ishmael Egyekumhene has predicted that government should not find it difficult to secure an investor for the new oil refinery if it commits to efficient management practices. He explains that potential investors will be targeting at value for their investments, hence, the need to meet their expectations. Mr. Egyekumhene’s comment was in reaction to announcement ...

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Govt to build new oil refinery for $4 bn

Boakye Agyarko - Energy Minister

Government has announced an ambitious plan to build a new oil refinery to replace the Tema Oil Refinery (TOR) within the next three to four years. Energy Minister, Boakye Agyarko who disclosed this says the new facility should increase the supply of refined products in Ghana. This is also part of attaining the energy hub status that the government is ...

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IES cautions of fuel crisis over unit shutdown at 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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Analysts urge private sector involvement in 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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Banks’ NPLs hit 8 billion cedis – BoG report

debt npl

The Non-Performing Loans (NPLs) of commercial banks in Ghana has reached GH¢7.96 billion as at June 2017. The figure went up from the GH¢6.09 billion recorded in the same period in 2016. The latest Banking Stability report by the Bank of Ghana shows that the NPL ratio has also gone up to 21.2 percent from the 18.8 percent recorded in ...

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