Stop political interference in TOR’s operations, Senyo Hosi demands
The Chief Executive of the Chamber of Bulk Oil Distributors, Senyo Hosi, wants politicians to allow the experts to run the Tema Oil Refinery (TOR)
Senyo Hosi, the Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), has asked politicians to stop unnecessary interference in the operations of the Tema Oil Refinery (TOR).
Speaking at the Energy Manifesto Town Hall by the Chamber of Bulk Oil Distributors on Tuesday, Hosi said failure to do so will rob the nation of the needed financial gains from the operation of the refinery.
“The problem that we have with the Tema Oil Refinery is not about investment, there have been millions of investments that have been sunk in TOR and they have yielded nothing.
“Refinery business is not about sparking machines and getting things going, it is trying to get things done sustainably and profitably and you need a different kind of orientation that does not exist at all,” Hosi explained.
He added: “The problem TOR has is nothing but politicians, political interference in commercial activities is not a sustainable proposition, so we really need to see exactly what you intend to do, are you looking at a strategic partner with some partial privatisation, or still keeping the pumping a lot of money and coming out with the same results, that is a clarity that from a policy perspective that market would like to have.”
Meanwhile, the Workers Union of the Tema Oil Refinery has given President Akufo-Addo a one-week ultimatum to dissolve the board of the refinery.
Addressing journalists on Wednesday, chairman of the Union, Bright Dongo, said the board has failed to turn around the fortunes of the company and get it back on winning ways.
“The board has never exercised their oversight responsibility on management to make sure that checks and balance that needed to be exerted on management get the needed result,” he said.
“This board has not been able to secure capital to recapitalise the company, total failure to the company, we are calling on President Akufo-Addo to remove the Tema Oil Refinery board with immediate effect.”
The Tema Oil Refinery has over the years experienced frequent shut down, mainly due to lack of capital to procure crude oil on continuous basis.
Fred Dzakpata
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