Ghana: Staff at TOR express concerns about subsidiary companies in TOR-Torentco deal

Some employees at the Tema Oil Refinery (TOR) have expressed concerns regarding the government’s intention to improve the refinery’s operations through Torentco Asset Management.

The concerned workers are claiming that there has been the establishment of two distinct companies, both of which still include Torentco as part of their shareholders.

Members of the General Transport, Petroleum, and Chemical Workers Union Division at TOR held a meeting with the Minister responsible for Energy to discuss their concerns.

In the past, the union has strongly opposed the Torentco-TOR deal, insisting on a reevaluation of Torentco due to doubts regarding their expertise to manage TOR effectively.

They now allege that these two newly formed entities Tema Energy and Processing Ltd and TOR Workers Charity Trust LBG are parts of a grand scheme by management of the TOR to use in carrying out its lease agreement with Torentco.

Despite the explanation provided to them that the move is in the interest of the workers, the union members remain steadfast in their stance, emphasizing the necessity of taking the appropriate measures to revitalize TOR.

“We are not against any company taking over TOR. We are saying the company that is coming to take over TOR should be of good track record; it must be capable and credible but not some group of people who will go and sit and form a company to take over the refinery and make money -that we will resist. TOR is for Ghanaians, and we are supposed to be given a fair deal. So, with this new companies, we will resist with our last blood to ensure that right thing is done”, said Bernard Owusu, National Chairman of the General Transport, Petroleum and Chemical Workers Union.