The Board of the Tema Oil Refinery (TOR) has expressed its disappointment with the General Transport, Petroleum, and Chemical Workers Union (GTPCWU) of the Trades Union Congress (TUC) Ghana regarding their allegations about the proposed lease transaction between Torentco Asset Management Limited and TOR.
In a letter dated Monday, 20 November 2023, the union petitioned the office of the special prosecutor to investigate the deal. The union urged the special prosecutor to intervene in the ongoing lease arrangement of Tema Oil Refinery to Torentco Asset Management Limited (now known as Tema Energy and Processing Limited) due to concerns about the individuals involved.
The union highlighted that the individuals behind Tema Energy and Processing Limited were attempting to deceive TOR workers by offering them 20% of its shares through a non-existent entity called ‘TOR Workers Charity Trust’. They emphasized that only five directors and direct beneficiaries of this trust were involved, and the trust itself was unknown to TOR.
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