New Energy Minister Visits TOR

Energy Minister Dr Paa Kwesi Nduom on Tuesday said money that would be generated by the Tema Oil Refinery (TOR) from the petroleum recovery levy would be used to defray its debt.

He said government had already restructured 2.4 trillion cedis out of the 4.5 trillion cedis debt owed by the refinery into bonds.

Dr Nduom, who was speaking at his first meeting with management and workers of TOR during his maiden visit to the facility, noted that because of the recent fuel price increases, the refinery was no more incurring any debt from the sale of fuel. He said while Ghanaians had no choice but to pay more for fuel, workers at the refinery should put the refinery equipment to the maximum operational level usage.

Dr Nduom noted that the patience, with which Ghanaians accepted the fuel price increases since January, should be a challenge for the workers to work to the satisfaction of the country.

"Many people in the country believe that there is stealing of fuel products at TOR," he said adding that this perception could be real or wrong. He said he had set himself twelve months to resolve the restructuring of TOR debt, as well as loss of products with the view to correcting the public perception.

Dr Nduom also complained about fire hazards, and said there was the need for workers to clean the environment, especially the drains to avoid any out break of fire.

"We must let people believe that TOR can help improve the country's economy within the next three months, for, it is in this vein that the government has established a committee to determine the fuel prices at any given time that there are changes in crude oil prices."

During question time, a worker complained about lateness of some management staff and said ever since the former Chief Executive Officer of the refinery was driven away, lateness to work had become the order of the day. The workers also called for the provision of spare parts, so that work would not grind to a halt.