Tema Oil Refinery's Managing Director announced a major expansion drive to restore full commercial operation, with near-term work to increase throughput from 28,000 barrels per stream day to 45,000–55,000 bpsd, and a strategic roadmap to eventually reach 100,000 barrels per day processing capacity.
26 October 2026 · The Ghanaian Times →
The Tema Oil Refinery reported a profit before tax of GH¢1.24 billion in 2025, its first profitable year in a decade, attributed to prudent management and improved commercial operations. The refinery reduced trade and other payables from GH¢7.1 billion to GH¢5 billion and cut receivables days from 1,099 to 652.
26 October 2026 · Joy Online →
Tema Oil Refinery's recovery has boosted Burkina Faso's petroleum product movements through Ghana from 15 per cent in 2024 to 40 per cent, according to TOR's Managing Director, reflecting improved collaboration among petroleum sector institutions and strengthening Ghana's regional fuel supply role.
26 October 2026 · Joy Online →
Tema Oil Refinery has completed audited financial statements covering 2019 to 2024, ending six consecutive years without completed audited accounts. The refinery submitted seven audited financial reports to the State Interests and Governance Authority, restoring its financial reporting obligations to date.
26 October 2026 · Joy Online →
The Tema Oil Refinery's recovery programme has created 1,657 permanent and temporary jobs directly and engaged more than 6,500 indirect and temporary workers during turnaround maintenance, according to Managing Director Edmond Kombat. The positions include 415 young engineers in permanent roles, temporary workers on maintenance units, and employees hired through local contractors.
26 October 2026 · Joy Online →
The Tema Oil Refinery recorded a 216.19% increase in product storage volumes between 2024 and 2026, rising from 426,954 metric tonnes in 2024 to 1,350,000 metric tonnes in 2026, as management works to restore commercial operations and strengthen the refinery's role in Ghana's petroleum supply chain.
26 October 2026 · Joy Online →
The Managing Director of Tema Oil Refinery says the restoration of refining operations has strengthened Ghana's resilience against international disruptions to petroleum supplies, including those from the Iran conflict, and underscores the importance of maintaining domestic processing capacity.
26 October 2026 · Joy Online →
The Tema Oil Refinery's Managing Director disclosed that when the current management assumed office in May 2025, TOR had accumulated losses of approximately GH¢10 billion and debt of about US$517 million, alongside a negative equity position of GH¢7.6 billion by end-2024. He attributed the deterioration to prolonged operational shutdowns, outstanding statutory obligations, and growing liabilities, noting that key production units had been inactive since 2019–2021 and audited financial statements had not been filed for six years.
26 October 2026 · Joy Online →
Tema Oil Refinery aims to increase crude-processing capacity from 28,000 to between 45,000–55,000 barrels per stream day, with engineers completing work on the F-61 crude heater as part of operational recovery efforts.
26 October 2026 · Joy Online →
The Tema Oil Refinery is expanding its crude-processing capacity to 100,000 barrels per day as part of a government strategy to meet about 70 per cent of Ghana's national fuel demand through local refining by 2028. The expansion, directed by President Mahama, aims to reduce dependence on imported petroleum products and strengthen energy security, with a longer-term ambition of reaching 200,000 barrels per day.
26 October 2026 · Joy Online →
The Tema Oil Refinery has received more than five million barrels of crude oil following zero receipts in 2024, according to its Managing Director. The renewed supply reflects growing confidence among suppliers and business partners following the refinery's recovery programme and restart of operations in December 2025.
26 October 2026 · Joy Online →