Energy Minister Matthew Opoku Prempeh has urged the newly appointed Board of Directors of the Tema Oil Refinery (TOR) to revitalize Ghana’s sole refinery and restore its financial viability.
During the inauguration of the eleven-member board in Accra, Dr. Prempeh expressed concern about TOR’s ongoing financial struggles despite previous interventions. He emphasized that this situation must be addressed urgently.
Dr. Prempeh highlighted the substantial demand within the country for TOR’s core services and encouraged the new board to view emerging market players as potential collaborators rather than direct competitors.
“I would want to urge TOR to make a deliberate effort to ensure that it becomes a modern-day 21st-century organisation centred on profit-making as a State-owned company supporting the government of the day,” he stated.
Furthermore, Dr. Prempeh emphasized the need for TOR to modernize its operations and operate as a profit-oriented entity aligned with the government’s objectives.
The newly constituted board, chaired by Leon Kendon Appenteng, includes Kofi Mocumbi Tagoe as Managing Director, and members such as Dr. Antoinette Tsiboe-Darko, Edith Sapare Grant, Nana Akua Bakoma Prempeh, Loraine Crabbe Ababio, Alfred Thompson, Joseph Mensah Browne, Kwame Baffoe, and Herbert Ato Morrisson.