Business News of Thursday, 6 October 2016

Source: 3news.com

TOR cannot refine 10ppm diesel – Senyo Horsi

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The Tema Oil Refinery does not have the capacity to refine 10 parts per million (ppm) sulphur content levels for diesel.

That’s according to the Bulk Oil Distributors. On Tuesday, CEO of TOR, Awuah Darko announced that in line with a directive from the NPA to import only 10ppm European standard fuel, it was going to begin refining petroleum products to meet international standards.

But CEO of the Bulk Oil Distributors, BDC, Senyo Horsi has questioned the ability of government to provide the needed finances for TOR to perform such functions.

“I read in an article that TOR would require an amount of 120 million dollars to refine 10pmm and it is uncertain whether or not government will be able to provide them with such financial assistance.

TOR has a lot of challenges,” he said. Furthermore, he told 3FM’s morning show Sunrise that if all importers comply by the pegged parts per million standards it will relieve consumers of some cost implications.

Meanwhile, the executive secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah has described as a shame that Ghanaians had to consume substandard petroleum products for years.

The National Petroleum Authority, Tuesday, directed all Bulk Oil Distributors and Oil Marketing Companies to import 10ppm or lower diesel.

This according to the authority is the approved European standard which is safe and free from toxic Sulphur content and safe for vehicles and health of consumers.