Mahama to sell Tema Oil Refinery to family and friends

Mahama to sell Tema Oil Refinery to family and friends

Member of Parliament for Manhyia South, Mathew Opoku Prempeh claims it is a deliberate policy of government to run down the Tema Oil Refinery (TOR) in order to sell the facility to “friends, family and cronies”.

According to him, TOR can be very “effective and profitable” if government makes a conscious effort to revive it.

‘Napo’ as he is popularly called made the claim while commenting on the government’s intent to enter into a joint venture agreement with Saudi Arabian petroleum giant, PetroSaudi to help revamp TOR.

If the agreement is concluded, PetroSaudi will be required to ensure the supply of adequate quantities of crude oil for TOR to refine.

But on Asempa FM’s Ekosii Sen programme Friday, Mathew Opoku Prempeh said Ghanaians will be shortchanged if the agreement is approved.

He explained that per the agreement, TOR will only refine the crude and PetroSaudi will sell it and decide how the proceeds will be shared.

This, the Manhyia South MP insists is “daylight robbery” by the Mahama-led administration.

Napo stated unequivocally that until government comes out with “further and better particulars” of the whole deal, Parliament will not approve it.

Communications Consultant to the Energy Ministry, Edward Bawa however maintains the agreement shows government has the interest of TOR at heart.

He indicated that, all government is seeking to do is to ensure TOR operates to full capacity.

Edward Bawa indicated that if approved, the agreement with PetroSaudi will ensure the effectiveness and efficiency of TOR.

He said TOR, which is not operating at full capacity because of its inability to establish letters of credit to buy crude, will be receiving the products to refine.

Edward Bawa added that TOR stands to gain a lot if Parliament approves the PetroSaudi deal.

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