TOR’s main problem is because it’s a state-owned enterprise – Mahama

Flagbearer of the National Democratic Congress (NDC), Former President John Dramani Mahama has said the problem of the Tema Oil Refinery (TOR) is because it is a state-owned enterprise.

To that end, he said, his administration would open the refinery up for private partnerships in terms of bringing that refinery back into operation.

But he added, whatever private partnership or private participation that will be agreed upon must come through a transparent process.

Speaking during a meeting with players in the petroleum downstream as part of his building Ghana Tour and engagements, on Tuesday, May 21, Mr Mahama said “’I think that we must initiate a technical and commercial audit of the Tema Oil Refinery. When we came into the office [in 2009], we put the refinery back to work, it hadn’t been working for a long time, and then it started operating again, our confidence was high.

“We dispatched the first parcel of our own locally produced oil to the Tema Oil Refinery, unfortunately, it was at the tail end when we were leaving office, our understanding is that the parcel sat there for several years, because the refinery was broken down again, and eventually, it was disposed of at a discount.

“And so, we need to look again, at how we can bring the refinery back in place, but I do think the problems we have with running that Refinery is because it’s a state-owned Enterprise. And we all know the inefficiencies that go with state-owned Enterprises And so we are open to private partnership in terms of bringing that refinery back into a operation and running it. But we think that whatever Private partnership or private participation is invited, It must come through a transparent process”