TOR STARTS OPERATING

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The Tema Oil Refinery (TOR) has finally
resumed operations after shutting down for
almost a year due some serious funding
challenges.
Information reaching us state that the refinery
formally resumed operations last week after
several test runs to ensure equipment are in
good condition.
But is this resumption in operation by TOR
sustainable? For some it is a matter of time,
looking at the fact there have instances that
TOR has gone down after few months of
resuming operations.
TOR is said to be working on about a million
barrels of crude oil this month, which analysts
believe could translate to about 40 percent
of product supply on the market.
Sources say an agreement has been reached
between TOR, importers of petroleum products
and oil marketing companies to supply these
products to them.
We are also learning TOR’s products
could be released onto the market from next
week, a move that could help the country save
some dollars on importation of finished
petroleum products.
This is because it is believed that it is a little
bit expensive to import finished products,
compared to crude oil in the country.
The country last year spent a little over 2
billion dollars to import petroleum products.
With TOR now in full operation, plus the
country’s strategic reserves at BOST, it is
believed that recent challenges with the
continuous supply of petroleum products
could be a thing of the past.
Meanwhile management of TOR and BOST are
said to be working to clear the refinery’s 650
million dollars indebtedness.

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