The minority party in parliament has threatened to use all legal means to prevent the Tema Oil Refinery's planned privatization by Torrentco.

Bright Simmons, vice president of Imani Africa, was the first to voice concerns about the six-year contract, which could only bring Ghana $3 million in revenue.

John Abdulai Jinapor, the committee's ranking member for mines and energy, said the contract is not in the nation's best interests when speaking to the media in parliament.

He requested that the government end the agreement right away so that a fair selection procedure may be used to identify a viable strategic partner for the revival of TOR.

“The Minority once again has been following yet another emerging scandal in the energy sector. It does appear that even when we decide that we want to take a rest the Akufo-Addo led government will always inundate us with scandals especially in the energy sector.

“We have been keenly following developments at the Tema Oil Refinery. We have become aware by the Akufo-Addo government to lease the Tema Oil Refinery for a six year period to a company known as Torrentco Asset Management Company,” Mr. Jinapor stated.

He continued: “Our checks have indicated that this company has no track record when it comes to oil refineries. It has no track record when it comes to the oil sector and its balance sheet does suggest that it cannot provide the needed support to Tema Oil Refinery.”

The minister added that Tema Oil Refinery is the only State refinery with the capacity to refine around 45,000 barrels of oil per day and is a vital asset.

“If Tema Oil Refinery is well positioned and strategically positioned it will result in millions if not billions of savings when it comes to import substitution,” he added.