Plans are advancing for the Tema Oil Refinery (TOR) to secure a strategic partner within the next 90 days to commence full operations. The Minister of State for the Ministry of Energy, Herbert Krapa, assured that the government, through the ministry and its agencies, will guide and protect this process.
Krapa’s remarks followed an announcement by TOR’s Managing Director, Kofi Tagoe Mocumbi, during a tour of the refinery in Tema on July 23. Mocumbi stated that TOR would complete the process and announce a strategic investor within three months.
This visit marked Mr. Krapa’s first working tour of a sector agency since taking office. He also visited Sentuo Refinery and Tropical Cable and Conductors Limited, both in Tema.
During the briefing, Mocumbi confirmed that TOR had begun the selection process for a strategic partner to help revamp and expand its operations. He announced a three-month timeline for securing the partner.
Krapa emphasized the government’s commitment to provide TOR with “capital, technology, and efficiency” to revamp the refinery, generate revenue for the state, and secure employment for its staff. Immediate interventions are needed to prepare the refinery, including operationalizing departments like the laboratory.
“TOR needs all our support and attention,” Krapa stated, highlighting TOR’s potential in the downstream sector despite its recent inactivity. He noted President Nana Addo Dankwa Akufo-Addo and Vice President Dr. Mahamudu Bawumia’s support and expressed confidence in finding a strategic investor.
Krapa underscored the urgency of securing a strategic investor and emphasized the importance of preparing the refinery’s terminal, pipelines, laboratories, and storage facilities to ensure smooth operations and revenue generation.
Regarding the usage of TOR facilities for storing Sentuo Refinery products, Krapa noted that the two companies are not competitors and should work to complement each other. He suggested that TOR should rent its facilities to Sentuo while working to fully revamp its operations.
Accompanied by Chief Director Wilhelmina Asamoah, Deputy CEOs of the National Petroleum Authority Perry Curtis Kwabla Okudzeto and Linda Asante, and various ministry officials, Krapa assured Sentuo Refinery management of the government’s continued support for local industry players to grow and expand their investments.
