In a significant move aimed at rejuvenating Ghana’s downstream petroleum sector, former President John Dramani Mahama has announced his commitment to revamping the Tema Oil Refinery (TOR) through a joint private-public partnership if elected as president. Mahama made this declaration after a comprehensive meeting with key players in the petroleum sector, including representatives from the Association of Oil Marketing Companies, the Chamber of Bulk Oil Distribution, the Tanker Drivers Union, the Chamber of Petroleum Consumers-Ghana, the Institute of Energy Security, and other petroleum service providers.
Constructive Dialogue with Industry Stakeholders
During the meeting, Mahama discussed the current state of the petroleum and petroleum-related sector, emphasizing the critical need for reform and revitalization. He highlighted the challenges faced by TOR as a state-owned enterprise and proposed a transparent process for private participation as a solution to bring the refinery back into operation and enhance its efficiency.
“I had the privilege of meeting with players in the downstream petroleum sector, including the Association of Oil Marketing Companies, the Chamber of Bulk Oil Distribution, the Tanker Drivers Union, the Chamber of Petroleum Consumers-Ghana, the Institute of Energy Security, and other petroleum service providers,” Mahama stated. “We discussed the current state of the petroleum and petroleum-related sector and the way forward.”
Commitment to Private-Public Partnership
Mahama underscored his commitment to a collaborative approach, aiming to address the operational inefficiencies at TOR through a private-public partnership model. “Our problems with running the refinery stem from it being a state-owned enterprise, and I am open to a private partnership in revitalizing TOR,” he noted. “I believe the refinery needs significant attention, and a transparent process for private participation is crucial in bringing the refinery back into operation and running it efficiently.”
Vision for a Sustainable Petroleum Industry
Mahama expressed his dedication to building a prosperous Ghana, addressing both challenges and opportunities in the downstream petroleum sector. He thanked all participants for their constructive dialogue and valuable insights, emphasizing the collective effort required to achieve a vibrant and sustainable petroleum industry for the benefit of all Ghanaians.
“Together, we can work towards a more vibrant and sustainable petroleum industry for the benefit of all Ghanaians,” Mahama concluded. “Let me thank all the participants and sector players for the constructive dialogue and valuable insights shared in today’s meeting.”
As the nation looks forward to potential changes in its petroleum sector, Mahama’s proposal for a joint private-public partnership at TOR stands as a significant step towards enhancing the operational capabilities and efficiency of Ghana’s primary oil refinery, promising a brighter future for the country’s energy landscape.
