TOR to become the best refiner in Africa as NAPO pledges continued support

The Minister of Energy, Dr. Matthew Opoku Prempeh, has said that the government will continually support the Tema Oil Refinery through concerted efforts to make it the best refinery in Africa.

According to him, the Bulk Oil Distribution and the Tema Oil Refinery can both work together to solve Ghana’s petroleum issues.

He spoke at the 2nd Annual General Meeting of the Bulk Oil Storage and Transportation Limited Company (BOST), where he noted that “We believe that TOR and BOST can effectively collaborate if both institutions are doing well, and we at the Ministry of Energy will continue supporting efforts to make TOR the best refiner in Africa.”

The minister commended BOST’s efforts and contributions towards the gold-for-oil policy.

“BOST has been at the centre of the Gold for Oil policy, which seeks to provide fuel to Ghanaians at competitive prices by reducing our dependence on foreign exchange for imports of petroleum products,” he said.

Dr. Prempeh also applauded BOST for achieving a net profit of GH¢342 million in 2022.

“On behalf of the government and the people of Ghana, I would like to express my sincere appreciation to the Board of Directors, Management, and staff of BOST. The progress made by BOST exemplifies the path we should continue to follow, and we encourage you to increase the momentum to sustain this performance and strive for even greater heights.

“BOST’s success contributes to the fiscal policies of the government and supports our national growth and development agenda. It is my expectation that other State-Owned Enterprises (SOEs) will learn from the BOST story and replicate this performance. This, I believe will ensure that government can effectively execute its flagship programs using revenues generated by its SOEs,” the minister added.

SSD/OGB

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