GOVT TO TRANSFORM TEMA OIL REFINERY INTO A WORLD CLASS FACILITY As part of NDC 2012 manifesto of making the Tema Oil Refinery (TOR) technically and financially efficient with an expanded capacity, p52 • Government is finalizing a business plan and a commercial framework to restructure the Tema Oil Refinery (TOR) to make it a world class facility. • As a result, a meeting involving all stakeholders, including the Ministry of Justice and Attorney General and the Ministry of Finance and Economic Planning is scheduled for mid-September to discuss shareholders agreement and government support. • The meeting would also discuss a Consent Agreement and other related Off-Taker Agreements, Mr. Emmanuel Armah-Kofi Buah, Minister of Energy and Petroleum, said on Tuesday. • The Minister, who took his turn at the Meet-The-Press series in Accra, said timelines for negotiations and execution of documents, including submission to Parliament and Cabinet, were expected in the last quarter of the year. • The Minister also disclosed that government is facilitating the process for the refinery to acquire a license of clarity to enable it to acquire and refine crude oil from the Jubilee field.
Posted on: Wed, 10 Sep 2014 10:49:36 +0000
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