logo
  • National

    National

    2019 Hajj Pilgrims To Pay Over 19k
    • 2/14/2019 4:22:30 AM
    • 6

    2019 Hajj Pilgrims To Pay Over 19k

    Gov't Partners Solin For Affordable Housing Using Polystyrene Concrete Technology
    • 2/12/2019 2:15:59 PM
    • 4

    Gov't Partners Solin For Affordable Housing Using Polystyrene Concrete Technology

    Northern Excellence Awards To Honour Development Oriented Individuals & Organizations
    • 2/13/2019 1:38:52 AM
    • 4

    Northern Excellence Awards To Honour Development Oriented Individuals & Organizations

    St. Mary's SHS Marks 69th Speech & Prize Giving Day
    • 2/13/2019 2:46:56 AM
    • 4

    St. Mary's SHS Marks 69th Speech & Prize Giving Day

  • World

    World

    Fire Hits Nigerian Election Office Days Before Vote
    • 2/13/2019 12:58:12 PM
    • 4

    Fire Hits Nigerian Election Office Days Before Vote

    Traumatised Nigerian Widows Confront Shell In Dutch Court
    • 2/12/2019 3:50:07 PM
    • 3

    Traumatised Nigerian Widows Confront Shell In Dutch Court

    US Slams Repression In Zimbabwe
    • 2/12/2019 10:09:26 PM
    • 3

    US Slams Repression In Zimbabwe

    El Chapo Found Guilty
    • 2/12/2019 10:11:45 PM
    • 3

    El Chapo Found Guilty

  • Business

    Business

    Local contractors plead with gov't to pay for completed projects
    • 2/13/2019 4:48:23 AM
    • 5

    Local contractors plead with gov't to pay for completed projects

    Global Oil Supply To Swamp Demand In 2019
    • 2/13/2019 12:57:43 PM
    • 5

    Global Oil Supply To Swamp Demand In 2019

    Ghana Link, UNIPASS dragged to court
    • 2/13/2019 8:11:01 PM
    • 4

    Ghana Link, UNIPASS dragged to court

    Economist fingers banking crisis for cedi fall
    • 2/14/2019 5:21:17 AM
    • 4

    Economist fingers banking crisis for cedi fall

  • Technology

    Technology

    Google and Facebook 'need fake news regulator'
    • 2/12/2019 3:46:22 PM
    • 4

    Google and Facebook 'need fake news regulator'

    Unraveling the journey of Vodafone 4G
    • 2/13/2019 12:10:56 AM
    • 4

    Unraveling the journey of Vodafone 4G

    Siemens launches FABRIC to turn urban data into dynamic visualisation of Jamestown
    • 2/12/2019 1:53:35 PM
    • 1

    Siemens launches FABRIC to turn urban data into dynamic visualisation of Jamestown

    Siemens partners WestPark to build industrial and business park in Africa
    • 2/13/2019 8:22:54 PM
    • 0

    Siemens partners WestPark to build industrial and business park in Africa

  • Sport

    Sport

    CAF CC: 'Rally Behind Us' - Amos Frimpong To Kotoko Supporters
    • 2/12/2019 11:11:08 AM
    • 3

    CAF CC: 'Rally Behind Us' - Amos Frimpong To Kotoko Supporters

    England World Cup Winner Gordon Banks Dies
    • 2/12/2019 10:25:22 PM
    • 3

    England World Cup Winner Gordon Banks Dies

    Dauda Mohammed Reveals His Football Idol
    • 2/12/2019 9:32:07 AM
    • 2

    Dauda Mohammed Reveals His Football Idol

    Lampard plays down talks of Chelsea return
    • 2/12/2019 10:21:21 AM
    • 2

    Lampard plays down talks of Chelsea return

  • Entertainment

    Entertainment

    Nana Kwame Bediako steps out with Mary J Blige at the BAFTA 2019
    • 2/12/2019 6:06:56 PM
    • 17

    Nana Kwame Bediako steps out with Mary J Blige at the BAFTA 2019

    Photos: John Mahama is 'grandfather', 'daughter' welcomes baby boy
    • 2/13/2019 8:18:34 PM
    • 5

    Photos: John Mahama is 'grandfather', 'daughter' welcomes baby boy

    A/R: Val's Day Bash To Rock Abrantie Spot In Agogo
    • 2/14/2019 12:27:35 AM
    • 5

    A/R: Val's Day Bash To Rock Abrantie Spot In Agogo

    Princess Shyngle Quells John Dumelo For 'Advising' iPhone Aficionados
    • 2/12/2019 8:02:13 PM
    • 4

    Princess Shyngle Quells John Dumelo For 'Advising' iPhone Aficionados

  • Politics

    Politics

    NDC Group Condemns Minister's Errand Boy After Assault Incident
    • 2/14/2019 4:23:50 AM
    • 6

    NDC Group Condemns Minister's Errand Boy After Assault Incident

    Privileges Committee to present report on maverick Ken Agyapong Wednesday
    • 2/13/2019 5:10:10 AM
    • 5

    Privileges Committee to present report on maverick Ken Agyapong Wednesday

    NPP's Edmund Kyei Proposes Early Electioneering Campaign
    • 2/12/2019 3:56:08 PM
    • 3

    NPP's Edmund Kyei Proposes Early Electioneering Campaign

    Northern REGSEC To Meet Over Salaga Disturbances
    • 2/13/2019 9:27:23 AM
    • 3

    Northern REGSEC To Meet Over Salaga Disturbances

  • Opinion

    Opinion

    Black History Month, Half Full Or Half Empty?
    • 2/12/2019 2:36:23 PM
    • 3

    Black History Month, Half Full Or Half Empty?

    Ghana Government Under The Microscope
    • 2/12/2019 10:10:43 AM
    • 2

    Ghana Government Under The Microscope

    NDC Can Set Up Its Own Neutrally Constituted Commission to Probe Ayawaso
    • 2/12/2019 6:46:48 PM
    • 2

    NDC Can Set Up Its Own Neutrally Constituted Commission to Probe Ayawaso

    Is Radio More Social Than Social Media?
    • 2/13/2019 4:55:08 PM
    • 2

    Is Radio More Social Than Social Media?

  • Lifestyle

    Lifestyle

    Whom You Know, Determines Your Speed In Life
    • 2/12/2019 3:25:32 PM
    • 5

    Whom You Know, Determines Your Speed In Life

    How to start having sex again after a breakup
    • 2/13/2019 1:05:31 AM
    • 4

    How to start having sex again after a breakup

    Preparing 2 Unique Smoothies To Start Your Day
    • 2/13/2019 9:38:11 AM
    • 4

    Preparing 2 Unique Smoothies To Start Your Day

    Masturbation Health Benefits.
    • 2/12/2019 10:04:40 AM
    • 3

    Masturbation Health Benefits.

  • Video

    Video

    PM Narendra Modi takes a jibe at Rahul Gandhi’s ‘jhappi’ and ‘wink’
    • 2/13/2019 4:14:18 PM
    • 7

    PM Narendra Modi takes a jibe at Rahul Gandhi’s ‘jhappi’ and ‘wink’

    Badflower LIVE @ Billboard
    • 2/13/2019 2:49:18 AM
    • 6

    Badflower LIVE @ Billboard

    DJ Switch At 32nd Session Of The Assembly of Heads Of State and Government of the AU in Ethiopia
    • 2/12/2019 2:42:17 PM
    • 5

    DJ Switch At 32nd Session Of The Assembly of Heads Of State and Government of the AU in Ethiopia

    MKE WA MTU NI SUMU
    • 2/12/2019 10:51:17 PM
    • 5

    MKE WA MTU NI SUMU

Business

http://www.24ghana.com/business/ies-demands-investigations-into-24m-revenue-loss-at-tor/53751-news
IES Demands Investigations Into $24m Revenue Loss At TOR
  • 12/3/2018 7:50:04 AM
  • 5

IES Demands Investigations Into $24m Revenue Loss At TOR

The Institute for Energy Security (IES), an Energy Think Tank, has called on the government to immediately probe the agreement between the Tema Oil Refinery (TOR) and British Petroleum, which they claim has led to a loss of about $24 million to the state.

According to IES, the negotiated deal between the two entities is inimical to the sustenance of TOR and a slap in the face of the taxpayer.

Speaking to Citi News, the Executive Director of IES, Paa Kwesi Anamua Sakyi said punitive actions should be taken against those behind the agreement.

“Since the product was delivered to us in Ghana around $81 per barrel, today, the price of crude oil has plummeted to below $60 per barrel. The difference between these two figures alone is $21 per barrel, so if you took 950,000 barrels you have a lot more than $20 million, and this huge loss to the state excludes that structural charges, financing cost, cost of refining the product, cost of finding a collateral manager to monitor the stocks. We are calling on the government to investigate the circumstances leading to the huge loss to the state and to the tax payer. We are calling on the government to intervene to stop TOR from engaging in further contract which is likely to bring us to where we are today,” Paa Kwesi Anamua Sakyi said.

TOR received the product earlier in October to enable it resume full operations. That was the first time the refinery was receiving crude since December 2016.

In June 2018, TOR was forced to shut down two of its main processing units due to the lack of crude oil to feed the plant.

The development forced the facility to limit its operations to tolling, leading to job cuts.

Source: Citinewsroom.com | Ghana

  • IES Demands Investigations Into $24m Revenue Loss At TOR
  • IES Demands Investigations Into $24m Revenue Loss At TOR
  • IES Demands Investigations Into $24m Revenue Loss At TOR

Related News

PIAC To Sign MoU With EOCO To Prosecute Officers for Misapplying Oil Revenues
  • 2/16/2019 6:14:03 PM

PIAC To Sign MoU With EOCO To Prosecute Officers for Misapplying Oil Revenues

AGI Wants Gov't To Release Funding To Boost Industrial Development
  • 2/16/2019 1:04:16 PM

AGI Wants Gov't To Release Funding To Boost Industrial Development

20 Female Start-up Enterprises Receive Support From Innohub fLab
  • 2/16/2019 1:04:16 PM

20 Female Start-up Enterprises Receive Support From Innohub fLab

Finance Minister Predicts 500,000 Barrels Increment In Next 4years
  • 2/16/2019 12:18:30 PM

Finance Minister Predicts 500,000 Barrels Increment In Next 4years

EC Chair Asks Political Parties To Disband Violent Group
  • 2/16/2019 11:33:34 AM

EC Chair Asks Political Parties To Disband Violent Group

GOIL shares customised Valentine's Day chocolates with customers
  • 2/15/2019 8:28:29 AM
  • 3

GOIL shares customised Valentine's Day chocolates with customers

GRA Says Only 2% In Informal Sector Pay Taxes
  • 2/14/2019 11:52:41 AM
  • 2

GRA Says Only 2% In Informal Sector Pay Taxes

Exporting air, cause of cedi depreciation - Ken Thompson
  • 2/14/2019 10:04:13 AM
  • 1

Exporting air, cause of cedi depreciation - Ken Thompson

3 KNUST Students, Lecturer To Represent Ghana At Global Huawei ICT Challenge
  • 2/14/2019 10:12:26 AM
  • 1

3 KNUST Students, Lecturer To Represent Ghana At Global Huawei ICT Challenge

Inusah Fuseini Alleges BoG Seeks Review Of RTI Bill
  • 2/14/2019 10:12:36 AM
  • 1

Inusah Fuseini Alleges BoG Seeks Review Of RTI Bill

Local contractors plead with gov't to pay for completed projects
  • 2/13/2019 4:48:23 AM
  • 5

Local contractors plead with gov't to pay for completed projects

Global Oil Supply To Swamp Demand In 2019
  • 2/13/2019 12:57:43 PM
  • 5

Global Oil Supply To Swamp Demand In 2019

Ghana Link, UNIPASS dragged to court
  • 2/13/2019 8:11:01 PM
  • 4

Ghana Link, UNIPASS dragged to court

Latest News

1,800 People Evacuated In Paris As WW2 Bomb Deactivated
World
  • 2/17/2019 9:43:53 AM
  • 0

1,800 People Evacuated In Paris As WW2 Bomb Deactivated

The Busumuru Element
Opinion
  • 2/17/2019 9:38:48 AM
  • 0

The Busumuru Element

Somaliland Court Suspends Newspaper For One Year For Publishing 'False News'
World
  • 2/17/2019 9:38:17 AM
  • 0

Somaliland Court Suspends Newspaper For One Year For Publishing 'False News'

GRA Struggling To Meet Revenue Target Over Diamond Cement And Dangote
Business
  • 2/17/2019 9:16:47 AM
  • 0

GRA Struggling To Meet Revenue Target Over Diamond Cement And Dangote

MPs Urged To Team Up With MMDCEs To Satisfy Requirement For DPAT Funds
Business
  • 2/17/2019 9:16:47 AM
  • 0

MPs Urged To Team Up With MMDCEs To Satisfy Requirement For DPAT Funds

DOVVSU Reveals Assault Cases Rise In Upper West Region
National
  • 2/17/2019 9:15:51 AM
  • 0

DOVVSU Reveals Assault Cases Rise In Upper West Region

NGO Donate To Senior Correction Centre
National
  • 2/17/2019 9:15:51 AM
  • 0

NGO Donate To Senior Correction Centre

GNACC Urges School Owners To Establish Counselling Departments
National
  • 2/17/2019 9:15:50 AM
  • 0

GNACC Urges School Owners To Establish Counselling Departments

Prison Officers Undergo Paralegal Training
National
  • 2/17/2019 9:15:50 AM
  • 0

Prison Officers Undergo Paralegal Training

Pentecost Church Organizes Clean-Up Exercise In Dome
National
  • 2/17/2019 9:15:50 AM
  • 0

Pentecost Church Organizes Clean-Up Exercise In Dome

Expo To Recruit Students, Footballers Into Top UK High Schools Underway In Accra
National
  • 2/17/2019 9:15:50 AM
  • 0

Expo To Recruit Students, Footballers Into Top UK High Schools Underway In Accra

Halt Discrimination Against Epileptic Patients - Mental Health Coordinator
National
  • 2/17/2019 9:15:49 AM
  • 0

Halt Discrimination Against Epileptic Patients - Mental Health Coordinator

New Egyptian Ambassador Pays Courtesy Call On Senior Minister
National
  • 2/17/2019 9:15:49 AM
  • 0

New Egyptian Ambassador Pays Courtesy Call On Senior Minister

Potsin Junction Accident Kills 3
National
  • 2/17/2019 9:15:49 AM
  • 0

Potsin Junction Accident Kills 3

Short's Commission: We Play Too Much With Serious Matters – Cudjoe
National
  • 2/17/2019 9:15:49 AM
  • 0

Short's Commission: We Play Too Much With Serious Matters – Cudjoe

Bawumia Reiterates Gov't's Commitment To Improve Zongos
Politics
  • 2/17/2019 9:12:46 AM
  • 0

Bawumia Reiterates Gov't's Commitment To Improve Zongos

LOAD Ghana calls for stringent measures to regulate sale of alcohol
Lifestyle
  • 2/17/2019 9:07:34 AM
  • 0

LOAD Ghana calls for stringent measures to regulate sale of alcohol

Chelsea vs Manchester United 3-4 - Highlights & Goals Resumen & Goles (Last Matches) HD
Video
  • 2/17/2019 8:42:08 AM
  • 0

Chelsea vs Manchester United 3-4 - Highlights & Goals Resumen & Goles (Last Matches) HD

Nigeria Postpones Presidential Election On Poll Day; Buhari Stoned? Kanu Calls Off Boycott; Senegal
Video
  • 2/17/2019 8:42:07 AM
  • 2

Nigeria Postpones Presidential Election On Poll Day; Buhari Stoned? Kanu Calls Off Boycott; Senegal

Ken Agyapong To Ŝϋꬴ lmmigration Officers & Not lnterested ln Speaker 0f ParIiament
Video
  • 2/17/2019 8:42:07 AM
  • 0

Ken Agyapong To Ŝϋꬴ lmmigration Officers & Not lnterested ln Speaker 0f ParIiament

Follow

Popular

  • Pulwama: Kangana Ranaut lashes out at Shabana Azmi & Javed Akhtar; Here's why | FilmiBeat
    Video

    Pulwama: Kangana Ranaut lashes out at Shabana Azmi & Javed Akhtar; Here's why | FilmiBeat

  • Morocco To Bring In VAR Technology For All Top-Flight League Games
    Sport

    Morocco To Bring In VAR Technology For All Top-Flight League Games

  • 'Hearts Ladies' Behind Songne Yacouba Struggle - Sarfo Gyamfi
    Sport

    'Hearts Ladies' Behind Songne Yacouba Struggle - Sarfo Gyamfi

  • Mortal remains of CRPF jawans reach home amid tears, anger and anti-Pakistan slogans
    Video

    Mortal remains of CRPF jawans reach home amid tears, anger and anti-Pakistan slogans

  • 2face Idibia Apologizes To Wife After Accused Of Beating His Wife
    Entertainment

    2face Idibia Apologizes To Wife After Accused Of Beating His Wife

  • Actor Bruno Ganz Dies At Aged 77
    Entertainment

    Actor Bruno Ganz Dies At Aged 77

  • Mahama Describes Osafo Maafo As Hypocrite
    Politics

    Mahama Describes Osafo Maafo As Hypocrite

  • Governance expert pushes for law on selection of regional capitals
    Politics

    Governance expert pushes for law on selection of regional capitals

  • PM Modi: Sacrifice of those killed in Pulwama will not go in vain
    Video

    PM Modi: Sacrifice of those killed in Pulwama will not go in vain

  • All party meet adopts resolution condemning Pulwama terror attack
    Video

    All party meet adopts resolution condemning Pulwama terror attack

  • 'Wu-Tang Clan: Of Mics and Men' - Variety Sundance Studio 2019
    Video

    'Wu-Tang Clan: Of Mics and Men' - Variety Sundance Studio 2019

  • Javed Akhtar, Shabana Azmi cancel Pakistan visit
    Video

    Javed Akhtar, Shabana Azmi cancel Pakistan visit

  • NISSAN Morning Drive: Bruins Continue Road Trip With Showdown Against Kings
    Video

    NISSAN Morning Drive: Bruins Continue Road Trip With Showdown Against Kings

  • Nana Addo Urges Oti, Volta Region To Develop Their Regions, Cement Relations In Peace
    National

    Nana Addo Urges Oti, Volta Region To Develop Their Regions, Cement Relations In Peace

  • Confirmed: Dr. Bawumia Convoy Involved In An Accident At Asemasa
    National

    Confirmed: Dr. Bawumia Convoy Involved In An Accident At Asemasa

24ghana.com

24ghana.com © 2018 Contact Us