TOR MD outlines revival strategy, confirms plans for private participation

Thu, 1 May 2025 Source: www.ghanaweb.com

The Managing Director of the Tema Oil Refinery (TOR), Dr. Yussif Sulemana, has outlined a comprehensive turnaround strategy aimed at reviving the state-owned refinery after nearly five years of inactivity, confirming that private sector participation will form part of the recovery plan.

Speaking to GhanaWeb Business on April 30, 2025, Dr Sulemana said that despite the challenges TOR has faced in the past, the refinery remains optimistic about ongoing efforts to restore its operations and financial viability.

“The plant has not been operating for almost half a decade,” he noted.

“You can imagine the state of the rotating equipment. But plans are well underway. We’re addressing internal weaknesses and working to attract investors,” he said.

He announced that TOR is close to finalising partnerships that will inject new capital and technical expertise into the refinery.

“We are hopefully going to close a partnership very soon. Additionally, we’re improving internal mechanisms, especially in our terminal business. That’s our current focus,” he added.

Dr Sulemana, who has been in office for four months, noted that efforts to increase revenue and enhance operational efficiency are already yielding results, with more progress expected as the refinery implements its new strategy.

The revival of TOR is seen as critical to reducing Ghana’s dependence on imported refined petroleum products and strengthening the country’s energy security.

SP/MA