24.7 C
Thursday, August 18, 2022

We did no wrong in sale of 260 metric tonnes of slop oil – TOR – Citi Business News

Management of the Tema Oil Refinery (TOR) has refuted claims of wrongdoing in a recent sale of about 260,000 tonnes of slop oil.

This follows a recent publication that suggested that TOR was involved in a shady deal with some unlicensed companies.

The report revealed what it described as a shady transaction between state-owned Tema Oil Refinery and two entities that do not have the required license to operate in the downstream petroleum industry.

The report added that documents available showed that on 4th May 2022, TOR sold a total of 260 metric Tonnes (260,000) of slop oil in their storage tank to K-Moy Ghana Limited and Petro XP Ghana Limited on a cash and carry basis, where each received 130 metric tonnes.

But a response sighted by Citi Business News management of TOR debunked the claims, stating that the slop oil was disposed of and sold to Petro XP Ghana Limited and not k-Moy Ghana limited, and that the transaction followed due process.

It added that slop oil was a mixture of petroleum product water and solid, therefore, rendering it a waste product.

Also, it stressed that TOR had been doing this business since its inception with many companies including Petro XP and has always been transparent with the entire process.

This comes at a time when the government recently announced plans to get the refinery back on stream after being redundant for a while now.

Source link

Latest news
Related news