Senior Staff Workers Union of Tema Oil Refinery (PMSU of UNICOF) is lamenting the fast deteriorating state of the prized State asset, thereby describing as succour news that the Board and Government have engaged a strategic partner to revamp the Refinery and bring it back to operation.
“We consider the yet to be finalized arrangements with the selected partner, TORENTCO as the only viable option available to bring back the refinery into operation, since successive governments are hesitant to inject capital into the operations of the refinery.
In particular, we consider as refreshing that apart from the annual and monthly rent that the partner will be paying to TOR, they will also be making a capex investment of USD 22 Million on the plants and other associated facilities,” the staff stated in a 20 June, 2023 release to the press.
The Senior Staff lambasted those they suspected to be the architects of the ongoing propaganda as either being ignorant about the real facts or being sponsored by adversaries of the refinery to keep TOR in its current near-helpless state for their wicked and selfish interest.
The Staff said as far as they were concerned, there is currently no other concrete alternative better than what was being considered now, and pledged their support to the Board, Management and the Government as it works to conclude the agreement.
“It is our considered view that the right investment has to be made now, other than that we risk losing our only refinery which is fast deteriorating. Quite obviously, we think the only way out now is to consider private participation in the running of the Refinery,” the statement continued.
Bright Adongo, the chairman of the Senior Staff stated that “As far as we concerned, there is currently no other concrete alternative better than what is being considered now. We therefore pledge our support to the Board, Management and the Government as it works to conclude this agreement.”
Read below the full unedited release from the TOR Senior Staff:
We wish to urge the public to disregard recent misinformation going on in the social and mainstream media about ongoing efforts by the Board and Government to revamp and reposition the Tema Oil Refinery (TOR) to effectively deliver on its core and related business in a sustainable manner. We consider the architects of the ongoing propaganda as either being ignorant about the real facts or being sponsored by adversaries of the refinery to keep the refinery in its current near helpless state for their wicked and selfish interest.
It is important to draw the attention of the public and well-meaning Ghanaians to the fact that for over a decade, TOR has not fully operated in a sustainable way due to political interference, mismanagement and lack of the requisite investment in the company by successive Governments. Notable among the current challenges of the company include:
- Failure to fund the purchase of crude oil for processing
- Debt overhang of over USD 500 million.
- Product accounting challenges
- Many critical equipment being left to rot due to prolonged period of inactivity and lack of funds to maintain them.
- Many products storage tanks are out of service due to lack of maintenance. Currently 20 out a total 59 tanks are out of service.
- Lack of Salary increment for staff for over five (5) years. TOR workers are really suffering
- Company’s failure to settle arears of workers provident fund (PF) which is in region of Ghc 40 million.
- Mass exodus of skilled staff to other refineries in the middle East
- Huge indebtedness to utilities providers such as ECG and Ghana Water Company leading to frequent cuts.
- Huge indebtedness to GRA and other statutory organizations
It is our considered view that the right investment has to be made now, other than that we risk losing our only refinery which is fast deteriorating. Quite obviously, we think the only way out now is to consider private participation in the running of the Refinery.
It is on the basis of this, that we the Senior Staff Workers Union of TOR (PMSU of UNICOF) welcome the decision by the Board and Government to engage a strategic partner to revamp the Refinery and bring it back to operation to contribute to fuel security in the country and stabilization of the Ghana Cedi. We are confident that this initiative would also guarantee job security and improved conditions of service and bring hope at last to the suffering workers, many of whom are lacing their boots to join the exodus.
We consider the yet to be finalized arrangements with the selected partner, TORENTCO as the only viable option available to bring back the refinery into operation, since successive governments are hesitant to inject capital into the operations of the refinery.
In particular, we consider as refreshing that apart from the annual and monthly rent that the partner will be paying to TOR, they will also be making a capex investment of USD 22 Million on the plants and other associated facilities.
The investment is aimed at:
- Maintaining and ensuring plant reliability and efficiency
- Maintaining and restoring the company’s storage capacity
- Installing equipment to ensure efficient product accountability
It is also important to clarify that per the terms of the arrangements, TOR is allowed to terminate the deal any time and refund the cost of investment to TORENTCO, if it finds a better alternative during the tenure of the agreement.
As far as we concerned, there is currently no other concrete alternative better than what is being considered now. We therefore pledge our support to the Board, Management and the Government as it works to conclude this agreement.
