The Tema Oil Refinery (TOR), Ghana’s premier oil refinery, has the potential to become a profitable institution if the newly constituted board of directors is allowed to focus on its core mandate without interference from external interests, a source familiar with the activities of the board has told the media. Apexnewsgh reports
Appointed by President Akufo-Addo, the 11-member board, chaired by experienced professional Leon Kendon Appenteng, includes individuals with expertise in various sectors.
The board is set to be sworn in on Tuesday, 26 March 2024, with the Energy Minister, Matthew Opoku Prempeh presiding over the ceremony.
With the goal of providing quality energy products and services to fuel Ghana’s economic growth in an environmentally sustainable manner, the new board is seen as a fresh opportunity for TOR to regroup, cut costs, and enhance productivity.
While concerns have been raised by some union members over the new board chair’s alleged involvement in a past botched deal, sources close to the board clarify that there is no evidence of any wrongdoing. Instead, the focus is now on exploring new partnership opportunities to steer TOR towards profitability.
Tema Oil Refinery, founded in 1960, has faced financial challenges over the years, recording significant losses and accumulating debt.
However, with strategic leadership and a commitment to operational excellence, TOR has the potential to become a success story in Ghana’s energy sector.
The newly constituted board represents a mix of seasoned professionals from diverse backgrounds, poised to steer TOR towards a new chapter of growth and sustainability.
By staying true to its core values and commitment to excellence, TOR can transform into a profitable and sustainable institution, benefitting both its workforce and the Ghanaian economy.
Source: Apexnewsgh.com/Ghana
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