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The National Petroleum Authority (NPA) boss, Alex Mould has disclosed that the Tema Oil Refinery (TOR) will only get crude oil to refine somewhere in December. This is in spite of a contract signed between the Nigerian National Petroleum Corporation (NNPC) and the Ghana National Petroleum Corporation (GNPC) this month. Speaking to Peace FM in an interview on �Kokrokoo�, Mr. Mould said normally the NNPC schedules every listing two months in advance so after reaching the deal with the Nigerians, the GNPC was supposed to send their listing requirements to the NNPC. ��the earliest we can get crude is mid-to-late December, because the contract, I understand, was signed somewhere in mid-October,� he stated. Explaining why TOR could not import crude oil now, the NPA Boss said �as at now TOR is having bilateral discussion with the International oil marketers�to bring the crude oil in�one of the agreement is for them to open a letter of credit, this is a bank instrument which is used�to ensure that the suppliers are paid." Touching on why government abrogated its contract with Sahara Oil, Mr. Mould explained that �the Sahara contract is a management contract which is back to back with a government to government contract, so once the government to government contract expires, the management contact is also automatically terminated." He continued: �The Sahara contract is a contract to manage another contract�if the contract which is being managed does not exist then basically the initial contract does not exist." �...The issue is we need to open letters of credit, as you know TOR has a lot of debt, so no bank is willing or was willing to open letters of credit until certain things were done in the balance sheet of TOR, as such government has mandated a transaction advisor to restructure the balance sheet of TOR...this has nothing to do with the actual supply of crude oil from an individual, it has to do with the fact that a bank instrument is required and no bank is willing to finance TOR because of the balance sheet issue, TOR is laden with debt,� he stated. Mr. Mould strongly contested the assertion that the country has been hit by a crisis in the supply of fuel. �There is no (fuel delivery) crisis, we have over 2 weeks stock�we receive products every single week...product supply in this country is brought in by licensed buying distribution companies...I don�t know what people are talking about reported shortages, reported shortages are mainly at certain petrol stations...Oil Marketing Companies have violated their agreement with TOR so there are certain OMCs that cannot lift the product from the Bulk Distribution Companies and this is what is causing the problem,� he stated.