Gov’t will support TOR to become a premium refinery

Dr. Mathew Opoku Prempeh, Energy Minister

The Energy Minister Dr. Mathew Opoku Prempeh has said the Akufo-Addo-led government will support the Tema Oil Refinery (TOR) to become a premium refinery in the sub-region. The support he mentioned could among other things be in the form of strategic partnership aimed at making TOR realise its fullest potentials.

The minister further gave assurance that Tema Oil Refinery, which remains a very important asset on the list of SOEs under his ministry, will not be dismembered and sold under the Akufo-Addo government but will rather be strengthened – even to the point of exporting its products to the sub-region.

Dr. Mathew Opoku Prempeh made the remarks when he paid a familiarisation visit to the Tema Oil Refinery – the first State Owned Enterprise (SOE) to have been visited by the minister since his confirmation by the appointments committee on Thursday.

The minister tasked both workers and management to work together and ensure that there is unity of purpose in the refinery. He assured the workers that his ministry will ensure that regulations by the National Petroleum Authority (NPA) do not adversely affect Tema Oil Refinery, but rather assist the nation’s refinery to achieve its set goals and objectives.

The minister noted that with discipline and commitment, the workers at TOR together with its management can turn the fortunes of the refinery around.

TOR MD’s welcome remarks

The Managing Director for Tema Oil Refinery, Francis. A.T. Boateng, thanked the minister for choosing TOR as the first SOE to be visited.

The TOR MD, who described the minister’s visit to the refinery as both an honour and privilege, said the Energy Minister’s visit emphasised his commitment to helping bring TOR back to life; a promise he gave during his vetting.

Mr. Boateng lauded the minister for the immeasurable role he played in ensuring that funds were made available to TOR for the purpose of completing and commissioning the second furnace to replace the one that exploded in January 2017.

The TOR MD further thanked the Ministry of Finance and State Interest and Governance Authority (SIGA) for their support to Tema Oil Refinery. He said completion of the Furnace project will return TOR to its nameplate capacity of 45,000 barrels per stream day; thus doubling the refinery’s revenue generation potential.

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