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Business News of Friday, 5 February 2016

Source: starrfmonline.com

TOR resumes operation ahead of April target

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The Tema Oil Refinery (TOR) has begun full operations ahead of the April 2016 target it set for itself last year.

TOR has not been refining crude for more than a year due to huge debts and failure to secure letters of credits.

Starr News can confirm that TOR has received three million barrels of crude which will feed the Crude Distillation Unit which processes 45,000 barrels of crude oil a day.

Minor works were conducted on the plant before it started operations. The first barge of one million barrels of crude is being discharged at the Tema port.

The second barge of two million barrels of crude is expected to be discharged by next month.

TOR is expected to hand over the finished products to BOST.