Wednesday, May 4, 2016

Ghana’s Tema Oil Refinery makes profit in 7 years


The Tema Oil Refinery (TOR) of Ghana has bounced back into operation announcing $800,000 profit between February 16, 2016 and April 20,2016, local media reports said on Tuesday.The feat comes after seven (7) years of inactivity and inability to make profit by the state oil refinery, forcing government to encourage the importation of refined petroleum products into the country.

The Daily Graphic published on Tuesday that the success story of TOR was resonated at the May Day parade in Wa on Sunday, where it was made evident that a collaboration between labour, management and and government has turned the only state refinery in the country round.

Before the success, TOR was marked by debts and inconsistencies, forcing government to impose TOR recovery debts on petroleum products, thereby bringing untold hardships to Ghanaian fuel consumers.

The paper said as a result of the success, a thanksgiving service has been held where the Acting Managing Director of TOR, Mr. Kingsley Awuah-Darko, assuring that the company has been given a sound footing to operate now for profits.

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