We will ensure full revival of TOR - Herbert Krapa

Plans are well underway for the Tema Oil Refinery (TOR) to secure a strategic partner within the next 90 days to commence full operations. To ensure the process is successful and in the best interest of the country, the Minister of State for the Ministry of Energy, Herbert Krapa, has indicated that the government, through the ministry and all its agencies, will guide and protect the process.

Reacting to the announcement by TOR's Managing Director, Kofi Tagoe Mocumbi, that the refinery would complete the process and announce a strategic investor within the next three months, Mr. Krapa emphasized the government's commitment to providing the refinery with the necessary capital, technology, and efficiency. This he said will help TOR execute its core mandate, generate revenue for the state, and secure employment for its staff.

During his first working visit to a sector agency since assuming office, Mr. Krapa toured TOR, Sentuo Refinery, and Tropical Cable and Conductors Limited, all located in Tema. Mr. Mocumbi assured the minister and the media that TOR had begun the process of selecting a strategic partner to revamp and expand its operations, with a three-month timeline for finalizing the partnership.

Mr. Krapa highlighted the need for immediate interventions to prepare the refinery, including operationalizing departments such as the laboratory. He stressed the importance of supporting TOR, noting that it is a strategic asset with significant potential in the downstream sector.

"I don’t think it is late in the day. I have had conversations with the President [Nana Addo Dankwa Akufo-Addo]. He doesn’t believe it is late in the day, and I am running on the back of his energy. That is the reason I chose TOR as the first," he said, adding that he is well-versed with the issues TOR faces.

Mr. Krapa expressed confidence that finding a strategic investor is the objective on the horizon and hoped that all stakeholders, including the board, management, and the union, would form a united front to save time and make progress in revamping TOR. He emphasized that securing a strategic investor should be an event, but the necessary preparatory work must be done to ensure a smooth entry for the investor. This includes making the terminal, pipelines, laboratories, and storage work efficiently to generate revenue.

Regarding the usage of TOR facilities for storing Sentuo Refinery products, Mr. Krapa stated that the two companies are not competitors, as both the local and international markets are vast enough for them to complement each other. He encouraged TOR to embrace the idea of renting its facilities to Sentuo while working to fully revamp its operations.

Mr. Krapa, accompanied by the Chief Director of the Ministry, Wilhelmina Asamoah, and Deputy Chief Executive Officers of the National Petroleum Authority Ghana, Perry Curtis Kwabla Okudzeto and Linda Asante, visited Sentuo Refinery. He assured Sentuo's management that the government, through policies and programs, would continue to foster a conducive environment for local industry players to grow and expand their investments.