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Energy Minister tasks new TOR board to prioritize economic viability

Eqweqqwe Energy Minister, Dr. Matthew Opoku Prempeh inaugurating the new TOR Board

Thu, 28 Mar 2024 Source:

Minister of Energy, Dr. Matthew Opoku Prempeh has charged the newly constituted 11-member board of the Tema Oil Refinery (TOR) to place primary focus on ensuring economic viability.

Speaking at the inauguration of the Board, the minister noted that despite several interventions to revive the state-owned enterprise (SOE), TOR remains in dire financial distress which requires an all hands on deck approach.

Dr. Opoku Prempeh added that TOR was presently underperforming relative to its demand and urged the new Board to critically address the situation.

“Despite several interventions in the past, TOR seems to remain in distress. This cannot and must not continue. There is enough demand in the country for what TOR’s core mandate stands for, and I urge you to see new entrants into the market more as your collaborators than your competitors per se,” he stressed.

Dr. Opoku continued “in that process, I urge you to be mindful that demand is not stagnant, and TOR must work hard towards becoming a viable player in this industry and to take advantage of the demand for your services.”

The Energy Minister called for deliberate efforts aimed at transforming TOR into a modern, world class and profit-oriented company.

The newly constituted 11-member board of TOR includes Leon Kendon Appenteng as the chair, Kofi Mocumbi Tagoe as the Managing Director, and other members such as Dr. Antoinette Tsiboe-Darko, Edith Sapare Grant, Nana Akua Bakoma Prempeh, Loraine Crabbe Ababio, Alfred Thompson, Joseph Mensah Browne, Kwame Baffoe, and Herbert Ato Morrisson.


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