Special Prosecutor Steps In To Stop Shady Partnership Between Tema Oil Refinery And Private Firm

• The Special Prosecutor has directed the management of the Tema Oil Refinery to suspend its proposed partnership with Tema Energy and Processing Limited
• The anti-graft office said it was assessing the risk of corruption in the proposed partnership
• The directive follows agitations from staff of the Tema Oil Refinery over the partnership deal

The Office of the Special Prosecutor has directed the management of the Tema Oil Refinery to suspend its proposed partnership agreement with Tema Energy and Processing Limited (TEPL).

The OSP, in a letter dated November 21, 2023, said it was assessing the risk of corruption in the partnership.

The directive follows agitations from staff of the Tema Oil Refinery against the deal with Torentco Asset Management Limited, now Tema Energy and Processing Limited.

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On Monday, November 20, the General Transport, Petroleum, and Chemical Workers Union petitioned the Special Prosecutor to investigate the lease agreement between the Tema Oil Refinery and Torentco Asset Management Limited.

Previous pressure to halt the deal

YEN.com.gh reported that civil society groups and experts in the downstream petroleum sector have also called on the government to halt the lease of the refinery.

For instance, the Chamber of Oil and Petroleum Consumers said Torentco Asset Management lacks experience running a refinery.

However, some workers at the refinery are in support of the deal and have backed the moves by the government.

Torentco is expected to refine up to 8 million barrels of oil annually and pay $1 million annually to the state as rent under the deal.

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Company with better offer ignored

The General Transport, Petroleum and Chemical Workers' Union claimed an American company had a better offer than Torentco but was sidelined.

The American company in question is called Falcon American Oil.

The union thus called for the deal to be reassessed because of the red flags it said it had noted.

Source: YEN.com.gh