ECG Disconnects Power Supply to Tema Oil Refinery Again

The Electricity Company of Ghana (ECG) is reported to have disconnected power supply to the Tema Oil Refinery (TOR) for the second time in less than five months.

Four months ago, the power distribution company cuts power supply to the refinery due to the huge indebtedness of TOR.

The once vibrant TOR, now a pale shadow of itself struggling to even pay salaries of workers was reported to have subsequently made only GH¢5 million part payment out of the estimated GH¢26 million debt it owes ECG.

According to sources contacted by EAGLEGHANA.COM, the Thursday, July 13, 2023 disconnection of power supply was necessitated by the inability of TOR to honour a payment plan agreed on with ECG.

This development has brought to bare urgent calls by stakeholders for the engagement of a strategic investor to help turn around the fortunes of the national oil refinery.

Ghana’s premier refinery located in the industrial city of Tema has been debt ridden for many years and currently lacks the capacity to be productive.

Government recently announced plans to lease TOR to Torentco Asset Management Group for $22 million for six years.

When the deal goes through, the group is expected to refine up to 8 million barrels of fuel annually but industry experts and civil society as well as political elements have raided question about the capacity of the relatively known, Torentco Group which they say does not have the necessary technical and financial muscle to revive TOR.

By Christian Kpesese/www.eagleghana.com