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Economy

Oil Marketing Companies refuse blame

Recent accusations from government quarters and the Tema Oil Refinery blaming the indebtedness of Oil Marketing Companies [OMCs] have been refuted as false and unfounded. Reacting to the accusations to Asempa News, the Industry Coordinator of the Oil Marketing Companies, Mr. Agyeman Duah said it is not true that the OMCs have caused the current situation of fuel shortages being experienced in parts of the country. Mr. Agyeman Duah said the indebtedness of the OMCs to the Tema Oil Refinery is not even up to six percent of the total debt stock of TOR and questioned how TOR could come to that conclusion knowing the full facts of their indebtedness. Answering questions over a wide range of issues that bordered on the current fuel shortages including how Ghanaians should expect the challenge to be addressed, Mr. Agyeman Duah indicated that the OMCs would do anything within their capacity to see to the immediate normalization of the situation. The Tema Oil Refinery has laid the current fuel shortages being experienced in the country at the doorstep of the OMCs, saying it is the OMCs whose debt stock had crippled TOR resulting in the financial institutions that credited TOR cancelling agreements with it. Most government functionaries had raised same concerns. Story by Kwadwo Asare-Baffour Acheampong, Asempa 94.7 FM

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