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Commenting on the newly instituted Interim operational-related,” he said.
Management Committee (IMC), Hosi said: “Some of the issues that we’re hearing today
“The strategic problem we have is not going to in relation to product losses and things not being
be solved by the appointment of a board. The found were very existent some 12 to 13 years
IMC has been set up to actually make some nec- ago,” Acheampong added. “So it tells you that
essary inquiries and hold the fort in turn, which some people there are getting rich at the expense
is a very good decision.” of the collective interest of the nation.”
He continued: “When new management Hosi had earlier commended the IMC for
inherits a culture, they may not be able to elim- actions taken to stop the theft of petroleum
inate everything at a given point in time but products from the facility. ™
should be able to spot them, take immediate
action and recover, which the IMC has been able
to execute within a very short period of time.”
Additionally, he said, “[the] key thing here
is that they [the IMC] are putting in systems to
start identifying where the loopholes are. I don’t
think the IMC is going to stay there for long.
That is a fact. But the most important thing for
TOR going forward is not just the appointment
of an MD [managing director] in another board,
which would be a continuation of the problem,”
Dr. Theo Acheampong, a Ghanaian econ-
omist and political risk analyst, agreed that
TOR had been mismanaged for a long time.
“Senyo is absolutely right because the prob-
lems of TOR are financial-, governance- and Ghana’s Tema Oil Refinery (File Photo)

Sahara Group plans large

investment in LPG in Africa

REGIONAL ENERGY and infrastructure conglomerate wet gas being processed, Shonubi said.
Sahara Group is set to invest over $1bn in Africa “Africa’s refining capacity of 3,343,000 barrels
to boost the energy transition on the continent. per day [bpd] is limited to just 20 countries. Uti-
The investment would go towards enhanc- lisation rates have fallen from about 75% in 2010
ing access to LPG in Africa and emerging econ- to 55% in 2020. Only six African nations have
omies, executive director of the Sahara Group combined LPG storage capacity greater than
Temitope Shonubi said in Johannesburg on 18 50,000 MT.” ™
October.
Shonubi was speaking at the African Refin-
ers and Distribution Association conference in
South Africa, where he expanded on the role of
LPG in Africa’s energy transition.
“Sahara, through its subsidiary WAGL
Energy Ltd, is already working towards invest-
ing $1bn to ramp up its LPG fleet and terminal
infrastructure over the next five years. In addi-
tion to the vessel fleet, Sahara is in the process
of building over 120,000 metric tonnes of LPG
storage in 11 countries,” he said.
According to him, the countries earmarked
for the storage tanks include Nigeria, Senegal,
Ghana, Cote d’Ivoire, Tanzania and Zambia. He
said the process to start construction has begun,
while five other storage facilities are at the pre-
liminary stage.
Africa had become reliant on imports to
meet its LPG demand as a result of low crude
oil refining capacity and the absence of adequate LPG may play a key role in the African energy transition (File Photo)

Week 42 20•October•2021 www. NEWSBASE .com P7