‘TOR Is Not For Sale’ – Management Denies ASEPA Claims

The management of the Tema Oil Refinery (TOR) has denied reports of a sale of the oil refinery to a Chinese company.

Alliance for Social Equity and Public Accountability (ASEPA), in a statement recently, stated a possible sale of the Tema Oil Refinery to a Chinese company.

Parts of ASEPA statements confirmed a meeting was held on Thursday, April 4 this year between the managements of the Tema Oil Refinery (TOR) and Chinese-owned private oil refinery, Sentuo Oil Refinery Ltd, where discussions about selling Ghana’s oil refinery were held.

The Alliance stated; “The meeting we were informed lasted from 10am to 1pm at the premises of the Tema Oil Refinery after which there was a large celebration at Sentuo Oil Refinery Ltd to celebrate the outcome of the supposed meeting. The said meeting till now has not been reported in the media neither has Tema Oil Refinery issued an official statement on the matter.”

The group therefore call for transparency stating “ASEPA as a public accountability organisation is therefore activating the Right to Information Law to compel both Tema Oil Refinery and Sentuo Oil Refinery to disclose to the public the nature of the relationship between Tema Oil Refinery and Sentuo Oil Refinery Ltd; whether TOR has been sold out rightly to Sentuo or Sentuo has taken over the management of TOR or certain aspects of TOR’s operations has been handed over to Sentuo”.

But TOR in a statement on Wednesday, April 10, 2024, says  “we have not entered into any unapproved mergers or acquisitions”.

“TOR cherishes its relationship with its stakeholders. Therefore, any noteworthy adjustments or developments will be disclosed in a clear and open manner.”

“As far as its activities are concerned, TOR is steadfast in its commitment to promoting understanding and explicitly asserts that the management of the Refinery has not been taken over”, the statement further read.

Click to read full statement: TOR statement

Source: Ghmessenger.com