The International Monetary Fund (IMF) Country Team has visited the Tema Oil Refinery (TOR) to assess its operations, understand the progress of its recovery efforts and gain insight into management’s plans to restore the refinery’s operational and financial sustainability.
The visit formed part of the delegation’s engagements with relevant authorities and selected state-owned enterprises in Ghana, providing an opportunity for discussions on TOR’s ongoing transformation, operational improvements and strategic importance to the country’s energy sector.
During a meeting with the IMF delegation, TOR’s Managing Director, Edmond Kombat Esq., outlined the operational and financial challenges inherited by the current management and the measures introduced since May 2025 to rebuild confidence in the refinery and restore its capacity to support Ghana’s energy needs.
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A key highlight of the briefing was the rehabilitation and restart of crude processing at the refinery’s Crude Distillation Unit (CDU), a significant step in the ongoing efforts to revive TOR’s core refining operations.
Mr Kombat also highlighted improvements in financial reporting and internal controls, staff-related reforms and efforts to secure a sustained supply of crude oil to support continued operations.
The discussions provided the delegation with an overview of the progress achieved so far, alongside the work that remains to be completed as management pursues a broader recovery agenda aimed at strengthening the refinery’s efficiency, reliability and long-term viability.
Beyond the resumption of crude processing, the IMF team was briefed on ongoing initiatives to increase TOR’s processing capacity, restore other critical processing units and improve the refinery’s overall operational performance.
These interventions are expected to strengthen TOR’s ability to contribute more meaningfully to Ghana’s energy security, while supporting efforts to build a more resilient domestic petroleum refining industry.
The engagement also offered an opportunity to discuss the refinery’s recovery journey in the context of its wider role in Ghana’s energy infrastructure and the importance of sound financial management, operational discipline and sustained investment in restoring the facility’s full potential.
Following the meeting, the delegation toured parts of the refinery to observe some of the rehabilitated facilities and ongoing works firsthand.
Members of the IMF team expressed appreciation for the progress made and welcomed the opportunity to gain a deeper understanding of TOR’s operations, the challenges confronting the refinery and the measures being implemented to restore its capacity.
The visit underscores the importance of continued engagement with key national institutions as TOR advances its recovery programme.
With management pursuing further rehabilitation, improved financial controls and more reliable crude supply arrangements, the refinery’s ongoing transformation remains central to efforts to restore its operational strength and enhance its contribution to Ghana’s energy security.
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Samuel Kwame Boadu is a Ghanaian entrepreneur, writer, and digital consultant passionate about creating impactful stories and business solutions. He is the Founder & CEO of SamBoad Business Group Ltd, a dynamic company with subsidiaries in digital marketing, logistics, publishing, and risk management.
