The Tema Oil Refinery (TOR) has denied allegations of an impending takeover by Sentuo Oil Refinery, countering claims of discussions regarding the sale of the national refinery to the Chinese-owned private oil company.

0

Mensah Thompson, the Executive Director of ASEPA, asserted in a statement on Monday, April 8, that there had been a meeting between TOR management and Sentuo Oil Refinery Ltd to deliberate on the potential sale of the national refinery.

1

However, TOR released a statement on Wednesday, April 10, 2024, refuting such claims and stressing that no negotiations have occurred regarding the sale, nor has any ceremony been arranged to mark Sentuo’s purported acquisition of TOR.TOR clarified that their current relationship with Sentuo involves the storage of some of Sentuo's crude oil in TOR's storage tanks.

2

When Sentuo is prepared to refine the crude oil, TOR facilitates the transfer back to Sentuo.Further, TOR assured stakeholders of its commitment to transparency and pledged to promptly disclose any significant developments as they unfold.Read the statement below:<img src="

alt="" class="wp-image-655044"/>

3