Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Add value to crude – Jantuah

  • SOURCE: | Editor
  • Oil2016Energy analyst Kwame Jantuah has called for the expansion of the Tema Oil Refinery (TOR) in order to refine crude from Ghanaian production fields for local consumption.
    According to Mr Jantuah, the country cannot continue to import refined oil while holding huge stocks of crude in its reserves.

    Currently, all the oil produced at Jubilee and TEN fields are exported in their raw form. Speaking on the Executive Breakfast Show (EBS) on Class 91.3FM on Wednesday August 31, Mr Jantuah said some amount of the crude should be kept for local use.

    He told show host Prince Minkah that: “We have jubilee, in six years we’ve got the TEN project going. After TEN, there are others coming into production. OCTP, Sankofa is also coming into production. Government has signed nearly 20 oil contracts with companies who have blocks. They will all start production between 2018 and 2025. So you can see the amount of oil revenue that is going to come into the economy. So if that is the case, are we still going by the same mantra we went with cocoa, we went with gold where we are exporting whole? Or do we say that a certain portion will be exported whole and value will be added to a certain portion?”

    “Now where TOR is concerned, we will need to expand it to be able to refine our own fuel for Ghanaians. The key there is that you do now have to expend foreign exchange out in bringing refined petroleum products in and to be able to do that you need a good refinery and you save a lot of money that way”.

    Source: http://www.ghanaweb.com/GhanaHomePage/business/Add-value-to-crude-Jantuah-466642

     

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Sep 2018 >>
    MTWTFSS
    27 28 29 30 31 1 2
    3 4 5 6 7 8 9
    10 11 12 13 14 15 16
    17 18 19 20 21 22 23
    24 25 26 27 28 29 30
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar