Business News of Thursday, 5 August 2021Source: www.ghanaweb.com• Government has been urged to cede majority of its stake in the Tema Oil Refinery to private investors•The move, Nana Amoasi VII believes will ensure the refinery is viable and successful in its operations•TOR has over the years faced a number of operational and managerial setbacksThe Institute of Energy Security (IES) has implored government to cede majority of its stake in Tema Oil Refinery to private investors. Executive Director of the IES, Nana Amoasi VII believes the move is necessary to ensure the viability and success of the refinery as it’s been plagued with numerous operational challenges over the years. Almost 50% or more is down.”“What is most important is that you need money to revamp the refinery. It’s about time the government accepts to cede the major part of its stake to private hands to ensure we get the needed money and efficiency. Then we can be assured of fuel security and price stability to some extent.”Ghana's foremost oil refinery, the Tema Oil Refinery (TOR) has been faced with a number of challenges and managerial setbacks.

Source: GhanaWeb August 05, 2021 15:11 UTC