ABUJA: The Tema Oil Refinery (TOR) has started exporting gasoline to Nigeria following an increased production capacity from 45,000 metric tons to 60,000 tons. This is one of the many strategies management of the company is putting in place to turn its fortunes around. It comes on the back of some challenges the refinery has faced in the recent past years, some of which include the shutting down of its Residual Fuel Catalytic Cracking (RFCC) unit for repairs.
Under a new management, the refinery seems to be making some impressive improvements including a successful processing of two million barrels of crude oil within three months with a corresponding financial balance of 2 million dollars. This means the refinery has bagged over two million dollars out of two million barrels of crude oil, they secured and refined within a period of three months.
Managing Director of the refinery, Kingsley Kwame Awuah Darko in an exclusive interview with TV3’s Josephine Frempong said the revamped refinery is on its way to become the most valuable national asset as operations have not been halted, since January this year.
In October 2015, the Chief Executive of TOR, Kingsley Kwame Awuah-Darko, revealed that the staff of the company had agreed to forgo their November salaries to help revamp the fortunes of the company. The measure, saved the company about GHC3.8 million and contributed to the revamping of processes. Mr. Awuah-Darko said they were working around the clock to ensure that TOR resumes its full production of petroleum products by June 2016.
