Management Debunkes Claims Of TOR Been On The Verge Of Collapsing

The manager's Ghana’s first and only refinery of Tema Oil Refinery (TOR), has debunked claims that it is on the verge of collapsing due to debts owed by some utility providers in the country.

Management Debunkes Claims Of TOR Been On The Verge Of Collapsing

The manager's Ghana’s first and only refinery of Tema Oil Refinery (TOR), has debunked claims that it is on the verge of collapsing due to debts owed by some utility providers in the country.

Some media reported earlier that the Ghana Water Company Limited (GWCL) had cut water supply to TOR for close to a month due to its inability to pay accumulated water bills that had amounted to GHC 4 million in arrears.

It was also alleged that TOR owed the Electricity Company of Ghana (ECG) about 2.3 million Ghana Cedis in arrears whereas the Managing Director of the company had also been accused of engaging new workers despite the financial challenges TOR is facing.

TOR in a statement however denied these claims, saying the company is currently taking some measures to ensure its strategic turnaround.

“We wish to refute what is recently being circulated in the media to suggest that TOR is on the verge of shutdown. Such publications from anonymous sources create an unwarranted negative impression of the organization and hinder the progress of our revitalization and expansion plans as well as the business operations at large.

“We hereby state categorically that TOR is not on the verge of shutdown, but has rather been positioned for its effective turnaround and revitalization through the support of its shareholder,” excerpts of the statement said.

TOR has not been operational for a while now due to many challenges.

Several Civil Society Organisations such as the Chamber of Petroleum Consumers and the Africa Centre for Energy Policy (ACEP), had been at the forefront of calls on the government to do all it can to get the refinery back on its feet.

The Energy Minister, Dr. Matthew Opoku Prempeh, during a tour of the refinery, expressed the government’s commitment to ensure the facility is up and running as soon as possible.

There have been suggestions that the continuous redundancy of TOR may lead to human capital challenges.