The Tema Oil Refinery (TOR) will be fully operational in June this, Chief Executive Officer of TOR, Mr Kwame Awuah-Darko, has said.
He disclosed this when Petroleum Minister Emmanuel Armah-Kofi Buah led a delegation from the Petroleum Ministry and the National Petroleum Authority (NPA) to meet with the board of directors of TOR.
The meeting discussed the progress of work done so far with respect to the comprehensive restructuring process currently being carried out at the company, a statement signed by Edward Bawa, Head of Communication at Petroleum Ministry, said.
Addressing the board of directors and management of TOR, Mr Buah urged them to work hard to ensure that the restructuring process is completed on time.
He also stated that the Ministry of Petroleum made the resumption of operation of TOR this year.
Mr Buah emphasised the need for management to have a clear roadmap for the revival of the company, saying “a fully operationalised TOR is key for a deregulated downstream sector”.
Board Chairman of TOR, Dr John Frank Abu expressed gratitude to the Minister’s continuous support, and reassured him of the board’s commitment to restore TOR.
NPA CEO, Moses Asaga said NPA was mandated to promote investment in the downstream sector, hence restructuring TOR plays a key role in attracting more investment in the downstream sector.
The NPA is a statutory agency regulating, overseeing and monitoring the petroleum downstream industry in Ghana to ensure efficiency, growth and stakeholders’ satisfaction.
TOR is Ghana’s only refinery established in 1963 to enhance the country’s economic investment and development programme.
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