Business News of Thursday, 22 February 2024

Source: www.ghanaweb.com

Shut down Chinese-owned Sentuo Oil Refinery – IES, COPEC to NPA

Sentuo Oil Refinery Oil Limited Sentuo Oil Refinery Oil Limited

Two energy institutions in Ghana, the Institute of Energy Security and the Chamber of Petroleum Consumers have asked the National Petroleum Authority to, as a matter of urgency, shut down the Chinese oil refinery, Sentuo Oil.

According to them, the refinery has not been licensed to distribute fuel on the Ghanaian market.

They noted that the refinery had been supplying subpar fuel products which is affecting the engines and the general performance of cars in the Greater Accra region and the three Northern regions.

“These worrying developments by the Sentuo Oil Refinery in pumping sub-standard products unto the Ghanaian market, if left to continue could see a surge in malfunctioning engines, particularly in the Greater Accra, Ashanti, and the three Northern regions as a larger bulk of these bad products are believed to have been trucked to these regions,” parts of a statement released by COPEC and IES noted.

They added: “To maintain the sanctity of the downstream petroleum sector, the IES and COPEC call on the NPA to move swiftly to shut down the Sentuo Oil Refinery in the interest of fuel consumers and the state at large. The NPA must do so unless it can be published for the consumption of Ghanaians all relevant permits and licenses issued to Sentuo, that warrant their continued operation and activities.”

The two institutions are hereby calling on the Special Prosecutor to investigate the activities of the refinery that was commissioned by the president earlier this year.

“The IES and COPEC call on the Special Prosecutor to investigate the activities of the Sentuo Oil Refinery leading up to unspecified and sub-standard petroleum products finding their way into the Ghanaian petroleum market,” they added.

SSD/NOQ

Watch a recap of business stories below:



Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel