Plans are underway for the Tema Oil Refinery (TOR) to partner with a strategic investor in the next 90 days to resume full operations.
The Minister of State for the Ministry of Energy, Herbert Krapa, has pledged government’s support to ensure the success of this process.
During a recent visit to TOR, the Managing Director, Kofi Tagoe Mocumbi, announced that the refinery is in the process of selecting a strategic partner to enhance and expand its operations. Mr. Krapa emphasized the government’s commitment to providing TOR with the necessary resources to achieve its goals, including capital, technology, and efficiency.
Mr. Krapa expressed the urgency of preparing the refinery for the incoming investor by operationalizing key departments such as the laboratory and others. He highlighted the importance of collaboration between stakeholders, including the board, management, and union, to facilitate the revitalization of TOR.
Additionally, Mr. Krapa visited Sentuo Refinery and emphasized the need for cooperation between TOR and Sentuo in utilizing the refinery facilities for storing products. He assured that both companies could complement each other in the local and international markets.
The Minister reiterated the government’s support for the local industry players to grow and expand their investments. He emphasized the importance of working together harmoniously to achieve collective progress and success in the oil and gas sector.
The partnership between TOR and a strategic investor is seen as a crucial step towards reviving the refinery’s operations and generating revenue for the country, as well as securing employment opportunities for its staff.
