TOR inherited GH¢10bn losses, US$517m debt in 2025, MD says

Business – GBC Ghana Online · Oct 27, 2026

By: Jennifer Nerkie Kenney

The Tema Oil Refinery (TOR) had accumulated losses of about GH¢10 billion and debts of approximately US$517 million when the current management took office in 2025, Managing Director, Edmond Kombat Esq. has disclosed.

Speaking during a Government Accountability Series on Monday October 26, 2026, Mr Edmond Kombat said the refinery’s crude distillation unit had been shut down since April 2021, while the Residue Fluid Catalytic Cracker (RFCC) had been out of operation since 2019.

Mr Kombat also disclosed that TOR had failed to file audited financial statements for six…