The Minority in Parliament is opposing the lease negotiation between Tema Oil Refinery (TOR) and Torentco Asset Management Limited (TAML).
The Ministry of Energy earlier said that there were negotiations ongoing between the state agency and Torentco, even though nothing had been finalised.
The Spokesperson for the Ministry, Kofi Abrefa Afena, in a press statement issued on Sunday, June 25, asked critics to verify their suspicions before making them public.
In the said release, Mr Abrefa Afena dared persons with any contrary documents to provide same or stop making unfounded accusations.
“Dr. Matthew Opoku Prempeh as Energy Minister has demonstrated without a shred of doubt, his total commitment to getting TOR back to work in line with the vision of His Excellency the President.
“Indeed, the Board, Management and Staff of the Company are on record to have severally touted the numerous positive interventions of the Minister in this regard.”
But speaking to journalists in Parliament on Thursday, July 13, Minority Spokesperson on Energy, John Jinapor said “We have become aware of attempts by the Akufo-Addo government to lease the Tema Oil Refinery for a six-year period to a company known as Torentco Asset Management company.
“Our checks have indicated that the company has no track record when it comes to the oil sector and its balance sheet does suggest that it cannot provide the needed support for the Tema Oil Refinery.
“The Tema Oil Refinery is a strategic asset. It is the only state refinery capable of refining about 45 thousand barrels of oil a day. If Tema Oil Refinery is well positioned it will result in millions if not billions of savings when it comes to import substitution.
“Unfortunately, the Akufo-Addo-led government has been sleeping on the job and has left the refinery to rot having failed to continue the progress made by the Mahama-led administration.
“They have decided to lease the Tema Oil Refinery to Torentco Asset Management and if you read the details of the contract they are supposed to refine just about 8 million barrels. That is woefully inadequate.
“We believe that that contract will not be to the benefit of the country, that contact will not benefit the ordinary Ghanaian and that contract will not give value for money,” he said.
The Yapei-Kusawgu MP stressed that a new and transparent process must be initiated to select another partner for TOR.
“The refinery alone has seen about five different managements under the Akufo-Addo administration. It does appear like they are playing with the refinery.
“It appears there is no seriousness when it comes to the management and revitalization of the refinery, and so we call on government to immediately halt this lease agreement and ensure that we go through a transparent process that gives everybody a fair playing field and equal opportunity so that eventually we can identify a strategic partner that will not only ensure that the refinery is put to good use but it serves the overall interest of the nation.”