Opoku Prempeh inaugurates new TOR board, urges strategic action for profitability

Dr. Matthew Opoku Prempeh, the Minister of Energy, officially inaugurated the newly constituted 11-member board of the Tema Oil Refinery (TOR) Company Limited in Accra, urging them to step up to the challenge ahead.

The board, chaired by Leon Kendon Appenteng and with Kofi Mocumbi Tagoe appointed as the Managing Director, comprises individuals including Dr. Antoinette Tsiboe-Darko, Edith Sapare Grant,

Read full articleNana Akua Bakoma Prempeh, Loraine Crabbe Ababio, Alfred Thompson, Joseph Mensah Browne, Kwame Baffoe, and Herbert Ato Morrisson.

Dr. Opoku Prempeh underscored the ongoing distress facing TOR despite previous interventions, stressing the urgency of the situation. He noted TOR's current underperformance relative to demand and urged the board to adopt a collaborative stance towards new industry entrants.

He emphasised TOR's need to evolve into a modern, profit-oriented entity, stating, "There is enough demand in the country for what TOR’s core mandate stands for, and I urge you to see new entrants into the market more as your collaborators than your competitors per se."

Highlighting the importance of TOR's transformation, Dr. Opoku Prempeh urged deliberate efforts towards profitability, stating, "I would want to urge TOR to make a deliberate effort to ensure that it becomes a modern day 21st-century organisation centered on profit-making as a State-owned company supporting the government of the day."