The Executive Director of the Centre for Environmental Management and Sustainable Energy, Benjamin Nsiah, is calling for a review of Ghana’s Petroleum Act to guarantee a more consistent allocation of locally produced crude oil to the Tema Oil Refinery (TOR).
Tema Oil Refinery (TOR) is increasingly turning to crude oil from West Africa as part of efforts to restore stable operations and support a long-term recovery plan, its managing director has said.
President John Dramani Mahama has announced that the Tema Oil Refinery (TOR) has resumed processing crude oil into petroleum products for the first time since 2018.
The Tema Oil Refinery (TOR) has said disciplined shipping schedules and tighter operational controls are beginning to pay off with storage tanks now fully stocked, a visible sign that the revived state-owned refinery is regaining operational efficiency after years of underperformance.
The Centre for Environmental Management and Sustainable Energy (CEMSE) on Oct. 24 proposed that TOR adopt a “tolling” system, where the refinery no longer buys crude oil directly. Instead, a private partner would supply and retain ownership of the crude, market the refined products, and pay TOR a fixed fee for its processing services.
The Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company Limited (BOST) have signed a Memorandum of Understanding (MoU) to enhance technical and commercial collaboration.
Appearing before the Energy Committee of Parliament, the Acting Managing Director of TOR, Edmund Kombat, disclosed that the refinery aims to process up to 60% of Ghana’s crude oil consumption to help the nation save an estimated US$400 million spent monthly on refined oil imports.
The Tema Oil Refinery (TOR) has refuted claims of a supposed takeover by Sentuo Oil Refinery, following allegations of a meeting to discuss the sale of the national refinery to the Chinese-owned private oil refinery.
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.
The assurance is contained in a statement issued on 24 June under the hand of both the board of directors and the management of TOR