Six MDs in eight years weakened TOR – Managing Director
Frequent changes at the top of the Tema Oil Refinery (TOR) during the eight years of the previous administration undermined management stability and made it difficult to address the facility’s deep-rooted operational problems, the refinery’s Managing Director, Edmond Kombat, has said.
Managing Director Edmond Kombat revealed that the previous administration at the Tema Oil Refinery (TOR) underwent significant leadership changes, with six managing directors and an interim management committee in eight years. This frequent turnover of management weakened management stability, making it challenging to address the refinery's operational issues, according to Kombat.
He stated that the refinery experienced this high turnover while not refining crude oil, contributing to the uncertainty faced by the state-owned facility. Kombat emphasized that consistent leadership is crucial for turning around a refinery with complex technical and financial challenges. The lack of independently audited financial statements over several years was another major weakness, making it difficult to determine the company's financial position and adding to the difficulties faced by management teams.
Current management has worked to clear the backlog of audited accounts and address the refinery's challenges. Despite management and accounting issues, Kombat argued that TOR remains a valuable national asset due to its storage capacity of one million metric tonnes, three times that of the Bulk Oil Storage and Transportation Company (BOST), and its ability to process 45,000 barrels of crude oil per stream day.
Kombat believes the current management's focus should be on consolidating the refinery's recovery and ensuring the sustained success of future leadership teams.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
