In the event that he wins the presidency in the next general elections on December 7, National Democratic Congress (NDC) flagbearer John Dramani Mahama has promised to modernise the Tema Oil Refinery (TOR).
A cooperative public-private partnership would be established, according to Mr. Mahama, to assist in reviving the country’s struggling oil refinery.
TOR will receive full attention under Mr. Mahama’s next administration, he stated during a meeting with participants in the downstream petroleum sector in Accra.
“We must take another look at our options for reopening the facility. However, I believe that the fact that the refinery is a state-owned company is the reason we are having trouble operating it.
Furthermore, the inefficiencies associated with state-owned businesses are well known. Therefore, we believe that whatever corporate partnership or private participation is invited, it must go through a transparent process. We are therefore open to commercial cooperation in terms of bringing that refinery back into operation and running it.