Kwadwo Nsafoah Poku attributes TOR recovery to NPP storage agreement

Kwadwo Nsafoah Poku, the Co-chair of the New Patriotic Party (NPP) Energy Committee, has stated that the recent operational recovery of the Tema Oil Refinery (TOR) is the result of strategic groundwork laid by the previous NPP administration. He specifically pointed to a 2024 storage agreement with Sentuo Oil Refinery as the primary revenue driver that enabled the current rehabilitation works and the refinery's return to functionality.

According to Poku, the contract with Sentuo Oil Refinery allowed TOR to leverage its storage capacity to generate much-needed liquidity. This revenue was subsequently reinvested into the facility's infrastructure, facilitating the technical repairs required to resume operations. He emphasized that the current management, serving under the President John Mahama administration, should acknowledge the role of these inherited initiatives rather than presenting the refinery's turnaround as a solely recent achievement.

Despite recent reports indicating that TOR has achieved profitability, Poku urged caution and called for greater transparency regarding the state-owned enterprise's financial standing. He highlighted that the refinery remains burdened by substantial legacy debts, some of which have been outstanding for more than a decade. Poku stressed that a comprehensive understanding of TOR’s financial situation is necessary to ensure that profitability claims are viewed within the context of these long-term liabilities.

The NPP official’s comments come amid broader discussions regarding energy security and the viability of Ghana’s downstream petroleum sector. By linking the refinery's current successes to previous policy decisions, Poku is calling for a continuity of acknowledgment in the management of national assets. He maintains that for TOR to remain sustainable, the administration must maintain the momentum provided by past strategic partnerships while being upfront with the public about the refinery's true fiscal health.