Ghana’s only refinery, the Tema Oil Refinery (TOR) has reached an advanced stage of discussion with Sunergy Inc., for the supply of one million barrels of petroleum products, the company has said in a press release.
According to the company, it has formed a strategic alliance with a Global Petroleum trader and supplier for petroleum sales in Ghana which was not named. It indicated that substantial progress has been made to secure a contract to supply one million barrels of crude oil per month to the TOR.
The proposed contract contemplates an initial term of 24 months, resulting in 24,000,000 barrels of crude oil to be delivered over the initial term. The second stage of discussion is the installation of some 3,000,000 barrels of crude oil and other petroleum product storage at the refinery location, the company said.
Sunergy is a US mining company that is operating in Ghana. It is also involved in facilitating petroleum supplies to Ghana through its affiliation and strategic alliance with a Global Petroleum Trading and Supply company and plans to expand its petroleum influence.
By Emmanuel K. Dogbevi