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TOR will expand to boost production
Tema, April 17, Ghanadot/GNA - The Tema
Oil Refinery (TOR) will undergo a 200 million-dollar
expansion programme to increase its production from 45,000
barrels currently to 145,000 barrels a day.
Speaking to newsmen in Tema on the sidelines of a lecture on
Ghana’s oil find, Dr Kofi Kodua Sarpong, Managing Director
of TOR, said the project is expected to begin late this year
and be completed in two years.
The lecture was organised by the Tema Chapter of the Kwame
Nkrumah University of Science and Technology for its alumni
in Tema.
Dr Sarpong said on completion, the Refinery would consider
the production of other products such as bitumen and other
petrol chemicals, in addition to petrol, liquefied petroleum
gas, diesel and kerosene.
He denied reports that petrol consumption in Ghana had
reduced drastically because of price hikes, saying it has
rather stabilized.
Dr Sarpong noted that the price of petrol has become a
disincentive to smugglers, who were ferrying the fuel across
the borders and that their illicit activities had ceased.
In his presentation at the lecture, Dr Sarpong cautioned
that in the wake of Ghana’s oil find, the government should
guard against concentrating its attention on petroleum alone
to the neglect of other sources of revenue.
He advised that resources generated from the oil should be
channelled into the revamping of national industries to
boost the economy and create jobs.
The oil find, he warned, would rather become a curse than
blessing if not managed properly to develop the entire
nation.
GNA
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