New management tackling debt, boosting operations at TOR – Godwin Mahama Ayaba
Corporate Affairs Officer of Tema Oil Refinery (TOR), Godwin Mahama Ayaba, says the new management is prioritising financial discipline and engagement with creditors to settle inherited debts while improving operations at the refinery.
The Corporate Affairs Officer of Tema Oil Refinery (TOR), Godwin Mahama Ayaba, has said the new management is prioritising financial discipline and engaging with creditors to settle inherited debts while improving operations at the refinery.
Speaking on The Pulse on March 11, Mr Mahama explained that the institution is undergoing a turnaround driven by stronger leadership and collaboration between the refinery, government, and the Ministry of Energy.
“It is about leadership, and currently I can say without a shred of doubt or any equivocation that leadership has been restored at the refinery,” he stated.
“That is why today we are seeing what we are seeing from the central government and the ministry — there is a willingness to ensure it works again.”
According to him, part of the revival plan includes expanding refining capacity, which will significantly improve the refinery’s operational output.
“I have told you about the expansion to 100,000 barrels capacity,” he noted.
Mr Mahama also disclosed that discussions are far advanced for the government to begin supplying crude oil from Ghana’s domestic oil fields to the refinery.
“There is a conversation far advanced between the agency, the ministry, and the government for the government to provide feedstock from our local or domestic fields,” he explained.
He indicated that crude from major oil fields such as the Jubilee Field and TEN field will soon be allocated to TOR for processing.
“Very soon you will see the government giving out some portions of its interest in Jubilee and TEN field to the refinery for refining,” he said.
According to Mr Mahama, the refinery’s infrastructure has been configured to process Ghana’s locally produced crude oil, which could reduce the country’s dependence on imported refined petroleum products.
“The facilities are configured in such a way that we will be able to refine our local crude,” he added.
The Tema Oil Refinery, which has historically faced operational and financial challenges, is expected to play a key role in Ghana’s energy security once the planned reforms and supply arrangements are fully implemented.