Tag: TOR
-
TOR workers demand dissolution of Board of Directors
The General Transport, Petroleum, and Chemical Workers Union of TUC (GPCWU) has urged the government to dissolve the board of directors at the Tema Oil Refinery (TOR). The union highlighted TOR’s achievements since the board’s appointment, tasked with securing a credible, strategic partner for TOR approximately 18 months ago. Nevertheless, the union has noted a…
-
TOR-Torentco deal: Some staff raise fresh alarm over formation of subsidiary companies
Some workers of the Tema Oil Refinery (TOR) have raised fresh alarm over government’s plans to revamp the operations of the refinery through Torentco Asset Management. The concerned staff are alleging the formation of two separate companies that still have Torentco as part of its shareholders. On Tuesday, October 3, 2023, the workers who are…
-
Govt supporting efforts to make TOR best refiner in Africa – NAPO
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured of the government’s support in reviving the Tema Oil Refinery (TOR) to boost downstream petroleum production. According to the sector minister, any positive gains recorded by the state-owned refinery would help cushion the government in its operations. Speaking at the 2nd Annual General Meeting of…
-
Managing Director of TOR resigns
The Managing Director of the Tema Oil Refinery (TOR), Jerry Kofi Hinson has resigned on health grounds, according to a letter sent to President Nana Akufo-Addo. Mr Hinson in his letter dated August 11, 2023, stated that he is unable to continue his role as the MD due to unforeseen health circumstances. “It has been…
-
Torentco deal best option to revive TOR – Management
The management of the Tema Oil Refinery (TOR) has declared the Torentco deal as the best option to revitalize the refinery and ensure its long-term sustainability. TOR, a crucial entity in Ghana’s energy sector, has faced significant challenges in recent years, including operational inefficiencies, financial constraints, and the need for infrastructure upgrades. Recognizing the urgency…
-
Leasing TOR to Torentco bad deal – COPEC cautions
Stakeholders within the oil and energy sector are raising red flags over the government’s proposal to lease the Tema Oil Refinery (TOR) to Torentco Asset Management (TAM). The Executive Secretary of the Chamber of Petroleum Consumers (COPEC) Duncan Amoah is questioning the capacity of the new entity to take over a huge company such as…
-
ACEP raises red flags over TOR-Torentco lease agreement
Benjamin Boakye, Executive Director of the Africa Center for Energy Policy (ACEP), has vehemently criticized the government’s decision to lease the Tema Oil Refinery (TOR) to Torentco Asset Management. Boakye said that the deal raises red flags because it was not done through a competitive bidding process. During an interview on Eyewitness News on June…
-
$2.5m worth of crude condensate missing at TOR – Opoku Prempeh
The Minister of Energy, Dr. Matthew Opoku Prempeh, has disclosed that some $2.5 million worth of crude condensate has gone missing at the Tema Oil Refinery (TOR). The Minister explains that his outfit secured a deal for the company in the premix sector but $2.5 million has been lost and left unaccounted for. “I gave…
-
You’ll be punished if you participate in illegal strike – TOR MD warns workers
The Managing Director of the Tema Oil Refinery (TOR), Jerry K. Hinson, has described attempts by some workers of the company to embark on industrial action as unlawful. In a letter to the workers, Mr Hinson warned that any worker who participates in the illegal strike action or picketing will be dealt with according to…
-
IES raises doubts on claimant to 600,000 barrels Russian oil
The Institute for Energy Security (IES) has raised doubts over the claimant to the 600,000 barrels of Oil that arrived in Ghana on Friday from Russia. A release by the IES indicated that the consignment aboard the vessel MT Theseus is being stashed in Ghana as the pool of buyers shrinks after Russia was blacklisted…