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Economy

TOR boss allays fears of total shutdown

The Managing Director of the Tema Oil Refinery has downplayed fears that the facility will be completely shut down in days for lack of crude oil. Sources tell Joy Business engineers are contemplating a shutdown of the Residual Fluid Catalytic Cracker (RFCC), the only functioning unit at the moment unless more crude supplies come in, within the next few days. According to the source the crude distillation unit, the main facility for processing crude itself has already been shut down for the same reason. But speaking on Joy FM’s Super Morning Show Thursday, Managing Director, Ato Ampiah said arrangements have already been made to procure crude for the refinery. “The government of Nigeria has made the supply of crude oil to the Ware and Port Harcourt refineries a priority. Therefore, the producing terminals would have to supply both refineries before any oil is exportable,” Mr Ampiah quoted report from Nigeria as saying. He said the Volta River Authority had lifted some crude oil “which we want to swap this morning and when we get that swap our RFCC will be up” and running. He is also hopeful that TOR will be able to lift some crude oil next week.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.