TOR targets listing on Ghana Stock Exchange by 2028 to ensure long-term sustainability
The Tema Oil Refinery (TOR) is targeting a listing on the Ghana Stock Exchange by 2028 as part of efforts to secure its long-term sustainability and prevent a recurrence of its operational challenges. Managing Director of TOR, Edmond Kombat says management is working to clean the refinery’s balance sheet, restructure its debt and achieve sustained […]
The Tema Oil Refinery (TOR) aims to secure a listing on the Ghana Stock Exchange by 2028, emphasizing its long-term sustainability and avoiding past operational challenges. Managing Director Edmond Kombat is committed to cleaning the refinery's balance sheet, restructuring debt, and achieving sustained profitability before the listing.
TOR inherited a negative equity of GH¢7.5 billion, which decreased to GH¢5 billion by the end of 2025. Kombat believes private investors, such as pension funds, will enhance corporate governance and protect the refinery from political interference. The refinery must focus on efficiency, product quality, and competitive pricing to remain competitive in the downstream petroleum market, regarding Bulk Distribution Companies (BDCs) as partners rather than threats.
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