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Ghana restarts lone oil refinery after third closure

10.21.2013  | 

The state-owned refinery started back up on Oct. 15 after management bought a consignment of 600,000 bbl of crude from Nigeria. The 45,000 bpd facility has closed three times since reopening in April.

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By EKOW DONTOH
Bloomberg

Tema Oil Refinery Ltd., Ghana’s only crude-processing facility, restarted after it secured funds for Nigerian crude, General Transport, Petroleum and Chemical Workers Union Chairman Emmanuel Offoh said.
 
The state-owned refinery “resumed operations on Oct. 15 after management secured some letters of credit and bought a consignment of 600,000 bblof crude from Nigeria,” Offoh said by phone from Tema, 30 kilometers (19 miles) east of Accra, the capital. “At current production of 28,000 bpd, we can continue to refine for three weeks,” he said.
 
The 45,000 bpd facility has closed three times since reopening in April. The plant has struggled since 2009 to replace aging machinery and to get financing, tightening supplies of fuel in West Africa’s second-largest economy. Ghana imports most of its fuel.
 
The refinery is looking for private investors as “government alone cannot finance the refinery’s activities, Managing Director Ato Ampiah said on Oct. 3.
 
Ampiah and Aba Lokko, the company’s corporate and public affairs manager, didn’t immediately respond to a call and e-mail seeking comment.



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