The Leasing of Tema Oil Refinery (TOR) has generated huge controversies in the public domain.
There are some who believe the move is a step in the right direction to help the country’s refinery back on its feet, while others have kicked against it saying they suspect the contract is questionable.
The latest to criticise the contract is African Center for Energy Policy (ACEP).
ACEP is of the view that the yet-to-be finalised contract between management of TOR and Torentco Asset Management did not go through the right process be it competitive bidding or sourcing.
There has been several rumors that authorities of TOR are in a negotiation with Torentco Asset Management who are prepared to invest $22 million dollars in the Ghana’s oil refinery company to help revive it.
Though management of the facility has been silence on the development, Senior Staff Association of the company on 19th of June, 2023 issued a statement declaring their support for the step taken by their authorities to rekindle the refinery.
But Executive Director of ACEP, Benjamin Boakye, in an interview with Akua Boakyewaa Yiadom on Adom FM’s late political talk show, Burning Issues revealed that the Torentco Asset Management which is about taking over TOR, is owned by an individual and not a consortium.
“We all want TOR to work but will not sit and watch management do something that will not benefit the country, because this Torentco Asset Management is one person company who does not have any expertise in oil.”
He is daring management of TOR to reveal the identity of the owner of Torentco Asset Management who will be receiving proceeds from the takeover to Ghanaians.
“For now, we know who is behind the Torentco company and when you check his background, he has not sold kerosene before let alone refining oil that he can use to help turn things around at TOR. So what motivated management of TOR to go into such an agreement with such a person?” Mr Boakye questioned.
One of the people contesting in New Patriotic Party flagbearership race who is also an Energy Expert, Kwadwo Nsafoa Poku, speaking on same programme, said with the current state of TOR he is not against its privatisation.
He called on the Managing Director of TOR to come out and explain to Ghanaians the truth behind the transaction as his quietness does not mean well.
Meanwhile, a Member of the Select Committee of Energy, Rashid Pelpuo, told Akua Boakyewaa Yiadom that the committee has not been briefed about the development and they will invite the Chief Executive Officer and Directors of the company to brief them.
He added that after reading about the leasing in the media and per what he had heard, he can say the contract is not the best.
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