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Bloomberg
Ghana’s state-owned oil refinery is seeking credit guarantees from the government after lenders declined to issue it loans for crude purchases, according to two people familiar with the matter.
The Tema Oil Refinery, 29 kilometers (18 miles) east of the capital, Accra, halted production on June 21 after running out of crude stock, said the people, who asked not to be identified because they’re not authorised to speak publicly about the matter.
The facility asked the finance and energy ministries for $70 million in credit guarantees, but has yet to reach an agreement, they said. Kingsley Antwi-Boasiako, a company spokesman, and Managing Director Isaac Osei didn’t answer calls for comment.