Petroleum crisis to improve soon – Dr Donkor
Accra, Sept. 28, Ghanadot/GNA –
The petroleum crisis will soon be over with the importation
of 34,000 metric tonnes of petroleum products over the
week-end, Dr Kobena Donkor, Deputy Minister of Energy, said
in Accra on Monday.
Addressing a press conference, the Deputy Minister said
since the beginning of the year, the management of Tema Oil
Refinery (TOR) had liquidity problems and issuing of Letters
of Credit (LOC) from Ghana Commercial Bank (GCB) to import
petroleum products.
“Since September last year, TOR has not been able to issue
LOC to purchase crude oil on the international market,” he
said.
Dr Donkor said management of TOR had accumulated so much
debt that the management of GCB refused to raise LOC and
ECOBANK was contracted to raise 300 million dollars to help
solve the problem.
Dr Kwame Ampofo, Acting Managing Director of TOR, said the
Refinery currently processed 100 barrels of crude oil daily
instead of 45,000 barrels.
He said out of 57 companies which owed TOR, 20 of them had
been blacklisted from operating with the company.
Dr Ampofo said the companies owed TOR 380 million Ghana
cedis and since June this year, it had been reduced to 78
million Ghana cedis.
GNA
