The Minority in Parliament has accused the Chief Executive Officer of the Tema Oil Refinery (TOR), Isaac Osei of incompetence in the manage,ent of the refinery.
Minority Spokesperson on Energy, Adam Mutawakilu says the company is incurring losses under Mr. Osei’s supervision.
“The company is now going into serious debt despite the TOR debt recovery levy,” he stated.
Institute of Energy Security in a statement had demanded an investigation into the circumstances that led to the loss of about $24 million to the state at TOR.
The loss, according to IES, was occasioned by a bad sale and purchase agreement between the management of TOR and British Petroleum (BP).
IES said TOR, on October 19, took delivery of some 950,000 barrels of crude oil for processing after several months of inactivity and IES alleged the refined product is now stranded in tanks due to the failure of TOR to find off-takers for the product.
However, the Tema Oil Refinery (TOR) in December 2018, refuted claims by IES that the company has incurred the $24 million loss.
The management claimed IES only sort to collapse the oil refinery.
Read more: RE: TOR plunged further into troubled waters
Mr. Mutawakilu, however, blamed the alleged increasing debt on the mismanagement of the company “administration has been incompetent in terms of managing the company, as a result, they do not want anybody to have access.”
He alleged Mr. Osei, the CEO has refused to honor invitations from the committee to explain TOR’s difficulties under his watch.
Mr. Mutawakilu said have served notice they will subpoena him to appear before the house.
“As a committee, we will put pressure to ensure that the management appears before Parliament to answer to the committee,” he added.
Latest Stories
-
2024/25 Ghana League: Heart of Lions sink Legon Cities to go third
31 mins -
Bright Simons: DBG, Ghana’s top development bank, goes for the jugular
1 hour -
Governance and Entrepreneurship consultant demands global support for Africa’s young farmers
1 hour -
Ghanaians reminded to prioritise regular health check-ups
1 hour -
Salah brace sends Liverpool 8 points clear
1 hour -
Leicester City sack manager Steve Cooper
1 hour -
Akwasi Sarpong wins AIBs 2024 Award for BBC OS coverage of Israeli hostage release
2 hours -
Gospel musician Adeline Baidoo shares inspiring story of triumph over adversity
2 hours -
Kwesi Yankah: Escape from Ghana
2 hours -
Musician DeThompson DDT drops new single Happiness
2 hours -
Ukraine’s Grain Initiative raises over $200m, provides lifeline amid global food crisis
3 hours -
Dancehall queen Spice donates to students of 3 basic schools in Accra through MYO Global Foundation
3 hours -
Kamal-Deen Abdulai urges Nanton to help NPP break the 8
4 hours -
TVET is not a dumping ground for underperforming students – C/R Minister
4 hours -
BoG Governor calls for increased preparedness to respond to emerging financial sector challenges
4 hours