Civil Society Organizations in Ghana including the Africa Center for Energy Policy are raising questions about the lease of the nation’s priced asset, the Tema Oil Refinery worth 700 million US dollars to a private company.
According to the CSOs, the refinery will be leased to Torentco Asset Management Group for 22 million for 6 years and is expected to refine up to 8 million barrels annually.
Established in January 2023, the CSOs argue that the local Ghanaian company lacks a track record in the petroleum business and cannot effectively take over the state Oil Refinery.