Tag: TOR
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$24m revenue loss hangs over TOR’s neck – IES
The Tema Oil Refinery (TOR) is to lose about 24 million dollars in revenue due to drop in global prices of refined products. This is the assertion of the Institute of Energy Security (IES). The energy think tank attributes the development to an ineffective business model despite producing refined products. The imminent loss follows the…
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Low funding keeps sulphur in diesel products from TOR high
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…
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TOR targets full production by year end
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…
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Ghana Beyond Aid achieved yet?
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…
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New refinery to attract investors if … – Analyst
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…
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Govt to build new oil refinery for $4 bn
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…
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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…
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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…
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Revamp TOR to reduce petroleum imports – IES
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…
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Nigeria’s fuel shortage not to affect Ghana – 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…