TOR rebuilds supplier confidence, boosts internally generated funds – Edmond Kombat
By Valentia Tetteh Tema Oil Refinery (TOR) says rebuilding confidence in its storage and petroleum-handling operations has been central to its recent efforts to generate internally generated funds (IGF) and sustain the refinery. Managing Director of TOR, Edmond Kombat, said the refinery inherited significant operational and financial challenges, including unpaid terminal benefits, maintenance…
Tema Oil Refinery (TOR) has regained the trust of its petroleum product suppliers, leading to a boost in internally generated funds (IGF) and the refinery's overall sustainability. Managing Director Edmond Kombat revealed that the refinery faced significant challenges, including unpaid terminal benefits, maintenance needs, and a lack of confidence from suppliers.
Suppliers were hesitant to store petroleum products at the facility due to concerns over losses and accountability. Kombat emphasized the importance of restoring confidence, which he accomplished by reassuring bulk distribution companies (BDCs), oil marketing companies (OMCs), and petroleum suppliers from neighboring Sahelian countries that products brought to TOR would be properly accounted for.
Once suppliers saw that their products were not lost, their confidence in the refinery grew, resulting in a surge of storage requests. This increased business allowed TOR to generate revenue from storage, product transfers, and rack operations, contributing to its internally generated funds. The additional funds supported maintenance activities, including the initiation of turnaround maintenance on the Crude Distillation Unit (CDU).
TOR also received dividends from its shareholding in Ghana Petroleum Mooring Systems (GPMS), which were used for facility maintenance. Addressing outstanding obligations, such as unpaid terminal benefits to retired and former employees, was another priority. Kombat credited the refinery's turnaround to renewed employee ownership and accountability, stressing that the refinery belongs to them and that negligence, leakages, and fraudulent practices ultimately affect them.
He encouraged staff to maintain integrity and emphasized that TOR remains committed to its mandate despite challenges. The Parliamentary Energy Committee paid a visit to the refinery to assess its operations and challenges, and Kombat expressed confidence that further progress would be welcomed upon the Committee's next visit.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
