Members of the General Transport, Petroleum and Chemical Workers Union Division at TOR have voiced their concerns regarding what they perceive as fresh government efforts to rejuvenate the refinery's operations through Torentco Asset Management.These apprehensive employees claim that there have been attempts to establish two subsidiary companies, both of which still include Torentco Asset Management as part of their shareholders.

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Furthermore, they allege that these newly created entities, namely Tema Energy and Processing Ltd. and TOR Workers Charity Trust LBG, are part of a larger strategy orchestrated by TOR management to facilitate their leasing agreement with Torentco Asset Management.

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Bernard Owusu, the National Chair of the General Transport, Petroleum and Chemical Workers Union, is advocating for transparency in any potential deal to ensure that the interests of the workers are given due priority.

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“We are not against any company taking over TOR, we are saying the company that is coming to take over TOR should be of good track record; it must be capable and credible but not some group of people who will go and sit and form a company to take over the refinery and make money, for that we will resist," he is quoted by Citi Business News.Owusu continued, "TOR is for Ghanaians, and we are supposed to be given a fair deal.

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So, with this new companies, we will resist with our last blood to ensure that right thing is done"Meanwhile, representatives of the General Transport, Petroleum, and Chemical Workers Union Division at TOR met with Energy Minister Dr Matthew Opoku Prempeh on Tuesday, October 3, 2023, to discuss their concerns.

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About the Tema Oil Refinery-Torentco dealIn a notable development within Ghana's oil sector, the Tema Oil Refinery (TOR) has submitted a request for authorization to the Ghana Public Procurement Authority (PPA) to enter into a lease arrangement with Torentco Asset Management.

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The proposal entails leasing TOR's essential production assets to Torentco Asset Management, which would take over the management of TOR's central refining operations for a span of six (6) years.As part of this arrangement, Torentco would possess the authority to refine a maximum of 8 million barrels of oil each year, with an annual rental payment of $1 million.

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Following some details of the proposed deal, checks have indicated that Torentco Asset Management (TAM) has no online presence, raising questions of a 'shady' deal by government.Meanwhile, TAM will also pay $0.5 for each extra barrel if it refines more than 8 million barrels under the deal.

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