A member of the Public Interest and Accountability Committee (PIAC), Mr. Kwame Jantuah has called for the expansion of Tema Oil Refinery following the signing of petroleum exploration agreement between the Government of Ghana and ExxonMobil, an American Oil, and Gas giant.
The Government of Ghana on Thursday, January 18, 2018 signed a petroleum exploration agreement with ExxonMobil to commence exploration activities at the Deepwater Cape Three Point (DWCTP) block.
Speaking in an interview with Oman News, Mr Kwame Jantuah said the country should not be too much interested in how many shares it is getting from the oil exploration but should rather be interested in adding value to our oil resources by making sure that we refine the raw crude in order to derive other petroleum products from it.
“We don’t have to only look at Ghana’s percentage. We have to add value to our natural resources. This mean that we have to expand TOR so that we can produce refined petroleum products for Ghanaians,” he said.
“Apart from the selling the refined petroleum products locally, there is big a market for petroleum products for landlocked countries in West Africa. Many of the landlock countries come to TOR for refined petroleum products and so if we expand TOR and refine the crude here in Ghana we can sell more and derive huge revenue.”
Mr. Kwame Jantuah who raised concerns about the country’s huge import bill for crude oil argued that, if TOR is expanded and is producing refined petroleum products, it could also trigger a reduction in fuel prices and that he said would bring relief to Ghanaians.
“A certain percentage of our oil share to the GNPC should be given to TOR,” he suggested.
Touching on the newly found natural resource- lithium in the Volta Basin, Mr Kwame Jantuah underscored the need for the government to put in place a legislation which would be favorable to Ghana before it is explored.
He cautioned that we should be careful not to repeat the mistakes we have made by exporting our natural resources like gold in its raw form thus depriving the country of its huge benefits.
“We should let the company which will be given the mining rights to explore the lithium to set up a processing factory in the country so that the youth can get jobs.
“The community must benefit from it,” he said.