The Director of Project, Monitoring and Evaluation at the National Petroleum Authority (NPA), Sheila Addo, has stated that the major issue facing the Tema Oil Refinery (TOR) in terms of operations is the subject of funding.

Speaking at the 2021 Ghana International Petroleum Conference (GhIPCON), Sheila Addo said the operators of TOR have come up with a plan to restructure the refinery but their challenge has to do with funding.

“I think the operators of TOR have done a thorough diagnosis of the refinery and they have come up with a plan to restructure the refinery, the challenge is financing, it is not a lack of tools or resources. The main resources that TOR is lacking are the financing and so it becomes a policy decision on how to get the financing to move towards where we all want TOR to be,” she said.

Meanwhile, she also said it is very important for the continent to collaborate and come up with strategies that will make it a vibrant Oil producer.

GhIPCON is designed to actively bring to the fore the petroleum industry’s perspective and guidance on issues of governmental and regulatory policy as well as best practices for the advancement of the industry, not only in Ghana but across the sub-region and beyond.