Wednesday, June 4, 2025
Voice FM...94.3
  • Home
    • All
    • Extra
    • Featured
    • International News
    • Local News
    • Politics
    • Voice Articles
    • Voice Business
    • Voice Entertainment
    • Voice Sports
    Suspect arrested in connection with robbery at Offinso Abofour

    Suspect arrested in connection with robbery at Offinso Abofour

    Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

    Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

    UN Global brand ambassador pledges to support decent work, economic growth for the youth

    UN Global brand ambassador pledges to support decent work, economic growth for the youth

    Ghanaians urged to brace for more rains as peak season approaches

    Ghanaians urged to brace for more rains as peak season approaches

    Three confirmed dead in Adentan flood

    Three confirmed dead in Adentan flood

    Cedi’s 16.7% surge marks major economic turnaround – Ato Forson

    Cedi’s 16.7% surge marks major economic turnaround – Ato Forson

    Trending Tags

    • Voicefm
  • Politics
  • Sports
  • Business
  • Health
  • Entertainment
  • International
    • All
    • Africa
    • Americas
    • Asia
    • Europe
    Pope Francis dead at 88, Vatican confirms

    Pope Francis dead at 88, Vatican confirms

    Boy, 10, dies after 340-pound foster mother sits on him

    Boy, 10, dies after 340-pound foster mother sits on him

    Pastor’s son in trouble for selling girlfriend’s car to marry another woman

    Pastor’s son in trouble for selling girlfriend’s car to marry another woman

    Kenyan Policeman shoots Magistrate in open court

    Kenyan Policeman shoots Magistrate in open court

    Lady commits suicide after an interview she granted recounting how she was sleeping with dogs surfaced online

    Lady commits suicide after an interview she granted recounting how she was sleeping with dogs surfaced online

    Prophet banned from casinos for winning too much

    Prophet banned from casinos for winning too much

  • Voice Xtra
    • All
    • Health
    • Religion
    • Technology
    Bono Regional Chief Imam passes on

    Bono Regional Chief Imam passes on

    ‘If you were silent under NPP, stay silent now’ – Rev Obofour to critics

    ‘If you were silent under NPP, stay silent now’ – Rev Obofour to critics

    Prophet banned from casinos for winning too much

    Prophet banned from casinos for winning too much

    Train Crash: Truck Driver Parked to Look for Jerk-Eyewitness Reports

    Train Crash: Truck Driver Parked to Look for Jerk-Eyewitness Reports

    Owusu-Bempah exposes Opambour’s boy

    Owusu-Bempah exposes Opambour’s boy

    I saw it – Nigel Gaisie stands by his prophecy on John Kumah’s death

    I saw it – Nigel Gaisie stands by his prophecy on John Kumah’s death

    • Gospel
    • Religion
    • Health
    • Technology
    • Voice Articles
  • LIVE Radio
No Result
View All Result
Voice FM...94.3
  • Home
    • All
    • Extra
    • Featured
    • International News
    • Local News
    • Politics
    • Voice Articles
    • Voice Business
    • Voice Entertainment
    • Voice Sports
    Suspect arrested in connection with robbery at Offinso Abofour

    Suspect arrested in connection with robbery at Offinso Abofour

    Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

    Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

    UN Global brand ambassador pledges to support decent work, economic growth for the youth

    UN Global brand ambassador pledges to support decent work, economic growth for the youth

    Ghanaians urged to brace for more rains as peak season approaches

    Ghanaians urged to brace for more rains as peak season approaches

    Three confirmed dead in Adentan flood

    Three confirmed dead in Adentan flood

    Cedi’s 16.7% surge marks major economic turnaround – Ato Forson

    Cedi’s 16.7% surge marks major economic turnaround – Ato Forson

    Trending Tags

    • Voicefm
  • Politics
  • Sports
  • Business
  • Health
  • Entertainment
  • International
    • All
    • Africa
    • Americas
    • Asia
    • Europe
    Pope Francis dead at 88, Vatican confirms

    Pope Francis dead at 88, Vatican confirms

    Boy, 10, dies after 340-pound foster mother sits on him

    Boy, 10, dies after 340-pound foster mother sits on him

    Pastor’s son in trouble for selling girlfriend’s car to marry another woman

    Pastor’s son in trouble for selling girlfriend’s car to marry another woman

    Kenyan Policeman shoots Magistrate in open court

    Kenyan Policeman shoots Magistrate in open court

    Lady commits suicide after an interview she granted recounting how she was sleeping with dogs surfaced online

    Lady commits suicide after an interview she granted recounting how she was sleeping with dogs surfaced online

    Prophet banned from casinos for winning too much

    Prophet banned from casinos for winning too much

  • Voice Xtra
    • All
    • Health
    • Religion
    • Technology
    Bono Regional Chief Imam passes on

    Bono Regional Chief Imam passes on

    ‘If you were silent under NPP, stay silent now’ – Rev Obofour to critics

    ‘If you were silent under NPP, stay silent now’ – Rev Obofour to critics

    Prophet banned from casinos for winning too much

    Prophet banned from casinos for winning too much

    Train Crash: Truck Driver Parked to Look for Jerk-Eyewitness Reports

    Train Crash: Truck Driver Parked to Look for Jerk-Eyewitness Reports

    Owusu-Bempah exposes Opambour’s boy

    Owusu-Bempah exposes Opambour’s boy

    I saw it – Nigel Gaisie stands by his prophecy on John Kumah’s death

    I saw it – Nigel Gaisie stands by his prophecy on John Kumah’s death

    • Gospel
    • Religion
    • Health
    • Technology
    • Voice Articles
  • LIVE Radio
No Result
View All Result
Voice FM...94.3
No Result
View All Result
Home General News

TOR breaks down; $37.7m needed to resolve problem

_@delete by _@delete
April 7, 2015
in General News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The Tema Oil Refinery (TOR) has shut down due to a major fault in the regenerative unit situated in the Residue Fluid Catalytic Cracking (RFCC) plant.

As a result, the refinery cannot process crude until the problem is fixed. The development could have serious implications on current supply of products on the market as TOR supplies about 30% of the petroleum products on the market since January this year.

TOR urgently needs the remaining $37.7 million in government funding to fix the problem and begin a second phase of stabilisation and enhancement projects designed to ensure the reliability of operations at the refinery.

Public Affairs Manager of TOR, Mrs Aba Lokko told The Finder that unreliable power supply by the Electricity Company of Ghana (ECG) and failure to carry out maintenance were the cause of the problem.

She noted that frequent shutdown and restart of the machines as a result of the rolling power cuts was not good for the operation of the refinery.

According to her, the USA company which gave TOR the license to operate the plant is in consultation with TOR, and the company has indicated that such an incident has “never happened anywhere in the world before.”

Crude processing at TOR restarted on December 29, 2014 after Nigeria’s Access Bank PLC provided TOR financial support to secure about 800,000 barrels of crude oil feedstock from a subsidiary of Nigeria-based Sahara Group.

YOU MAY ALSO LIKE :  Family Of Deceased Challenges Nkawkaw Court Decision To Grant Bail To Murder Suspect

Mrs Lokko told The Finder that TOR completed the processing of the 800,000 barrels of crude oil before the RFCC broke down on March 13, 2015.

According to her, the refined products have been sold to Bulk Oil Distribution Companies (BDCs).

She explained that every two years, TOR shuts down completely for turnaround maintenance.

According to her, the last time general shutdown turnaround maintenance was carried out was in 2009.

She explained that general shutdown turnaround maintenance for 2011 and 2013 were not carried out because of lack of finance.

Government in 2010 promised TOR $67 million for plant stabilisation and enhancement projects.

Consequently, TOR has completed the first phase of plant stabilisation and enhancement projects on the crude distillation and residual fluid catalytic cracking units at a cost of $30 million.

Mrs Lokko said TOR is awaiting the remaining $37.7 million in government funding to fix the problem and begin a second phase of stabilisation and enhancement projects designed to ensure the reliability of operations at the refinery.

TOR’s refining operations have been inconsistent amid frequent shutdowns of processing units since 2009 mainly due to a lack of capital to procure crude oil on a continuous basis, which has impacted petroleum product supplies to the Ghanaian market.

TOR refines 45,000 barrels of crude oil per day while the national demand is about 65,000 barrels per day.

YOU MAY ALSO LIKE :  25-year-old woman dies in boyfriend’s room; family suspects foul play

This leaves a deficit of over 20,000 barrels per day.

As a result, the BDCs were allowed into the system to import refined products to fill the deficit.

However, due to inconsistencies in TOR’s operations, amid frequent shutdowns of processing units since 2009 mainly due to a lack of capital to procure crude oil on a continuous basis, BDC were importing refined products to satisfy the 100% needs of the country.

Last year, the country suffered debilitating fuel shortage because the BDCs said they could not secure letters of credit to import because government owed them GH?1.8 billion.

The warning by BDCs last month that government owed them GH?2.1 billion and that their bankers were refusing them letters of credit suggest another possible fuel shortage.

Any fuel shortage will only compel the few companies able to buy diesel to operate in this rolling power cuts to grind to a halt.

Having experienced the challenges of relying on either BDCs or TOR for fuel supply, the best choice for the country can now be determined by policymakers.

In November 2014, then deputy Minister for Energy and Petroleum, John Jinapor, announced that the government was in talks with Petro-Saudi in a joint-venture arrangement to revive the ailing oil refinery.

The agreement, when reached, would see the Arabian Firm plug the inefficiencies that have engulfed TOR.

YOU MAY ALSO LIKE :  Ghana regained No. 1 position as gold producer due to Akufo-Addo’s policies – Lands Minister

Per the agreement, a new marketing firm called TOR-PS (TOR Petro-Saudi) would be set up to procure crude oil and sell the finished product. Petro-Saudi is expected to control 49% of the stakes while Ghana manages the remaining 51%.

Importers and marketers of petroleum products could be allowed to fix their own prices by the end of the year, government has said.

It is an idea that will form part of a deregulation policy aimed at bringing in more private sector players.

Deputy Minister of Petroleum, Ben Dagadu disclosed this at the annual general meeting of BDCs.

However, Chief Executive Officer of the BDCs, Senyo Horsi has indicated that the government’s decision to deregulate the petroleum downstream sector will be unsustainable.

He further posited that there are some “key decisions” that will negatively influence the acceleration of the petroleum industry when it is deregulated.

Horsi believes government was compelled to take such a decision because of some circumstances it had no control over.

He said government’s decision to liberalise the petroleum sector will benefit the economy and Ghanaians.

He, therefore, suggested that various stakeholders focus on what government can

Share this:

  • Facebook
  • Twitter
Previous Post

Banks must be resilient

Next Post

Gov’t doesn’t owe us Ghc8 billion – SSNIT

_@delete

_@delete

Next Post

Gov’t doesn’t owe us Ghc8 billion – SSNIT

READ - FROM OTHER CATEGORIES

SUGGESTED - FOR YOU

  • All
  • Politics
  • Voice Business
  • Voice Entertainment
  • Health
  • Technology
Suspect arrested in connection with robbery at Offinso Abofour

Suspect arrested in connection with robbery at Offinso Abofour

May 29, 2025
Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

May 29, 2025
UN Global brand ambassador pledges to support decent work, economic growth for the youth

UN Global brand ambassador pledges to support decent work, economic growth for the youth

May 19, 2025
Ghanaians urged to brace for more rains as peak season approaches

Ghanaians urged to brace for more rains as peak season approaches

May 19, 2025
Three confirmed dead in Adentan flood

Three confirmed dead in Adentan flood

May 19, 2025

EDITOR'S PICKS

Poor Service of Delta Airlines made me miss my Detroit tour – Sarkodie

Poor Service of Delta Airlines made me miss my Detroit tour – Sarkodie

by Attah Dabone
September 11, 2023
0

Ghanaian rapper and songwriter, Sarkodie said he missed his event in Detroit due to Delta

Plot to remove IGP: Dampare to appear before committee on September 12

Plot to remove IGP: Dampare to appear before committee on September 12

by Attah Dabone
September 11, 2023
0

Chairman of the ad-hoc committee probing the leaked plot to remove IGP, Samuel Atta Akyea has

Tema Motorway bridge closes for repair works

Tema Motorway bridge closes for repair works

by Attah Dabone
September 7, 2023
0

The Tema Motorway Bridge that connects Community 18 to Borteyman will be closed to traffic from Sunday,

Wenchi: GES probes teacher for allegedly forcing pupils to swear by deity over stolen phone

Wenchi: GES probes teacher for allegedly forcing pupils to swear by deity over stolen phone

by Attah Dabone
September 7, 2023
0

The Wenchi Municipal Directorate of the Ghana Education Service (GES) in the Bono Region has

Car stolen from a driveway in Canada found in Ghana

Car stolen from a driveway in Canada found in Ghana

by Attah Dabone
September 7, 2023
0

In an astonishing turn of events, a car stolen from a Toronto driveway in Canada

Be transparent in limited voter registration exercise – Mahama tells EC

by Attah Dabone
September 6, 2023
0

Former President John Dramani Mahama has asked the Electoral Commission (EC) to be fair in

NPP flagbearer race: Ghanaians react to Alan’s withdrawal

by Attah Dabone
September 6, 2023
0

Former Trade Minister, Alan Kwadwo Kyerematen’s withdrawal from New Patriotic Party’s (NPP) presidential race has sparked reactions

VOICE NEWS - ARCHIVE

Latest News Trending

Suspect arrested in connection with robbery at Offinso Abofour

Suspect arrested in connection with robbery at Offinso Abofour

by Attah Dabone
May 29, 2025
0

Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

by Attah Dabone
May 29, 2025
0

UN Global brand ambassador pledges to support decent work, economic growth for the youth

UN Global brand ambassador pledges to support decent work, economic growth for the youth

by Attah Dabone
May 19, 2025
0

Featured News

Suspect arrested in connection with robbery at Offinso Abofour

Hannah Bissiw, Atiwa West DCE lead operation to arrest 10 illegal miners

UN Global brand ambassador pledges to support decent work, economic growth for the youth

Ghanaians urged to brace for more rains as peak season approaches

Three confirmed dead in Adentan flood

Cedi’s 16.7% surge marks major economic turnaround – Ato Forson

6-year-old boy feared drowned after heavy rainfall in Dunkwa

  • Home
  • LIVE Radio

Voice FM Online © Copyright 2016, All Rights Reserved.

No Result
View All Result
  • Home
  • LIVE Radio

Voice FM Online © Copyright 2016, All Rights Reserved.