TOR: Appointment of Kendon Appenteng as Board Chairman disappointing

The General Transport, Petroleum and Chemical Workers’ Union (GTPCWU) has expressed disappointment over President Nana Akufo-Addo’s decision to nominate Leon Kendon Appenteng as the Board Chairman of the Tema Oil Refinery (TOR) Company Limited.

On Tuesday, March 19, President Akufo-Addo reconstituted the board of TOR, nominating Mr Appenteng as Chairman of the Board Chairman and Kofi Mocumbi Tagoe as the Managing Director of the Company.

However, the GTPCWU has expressed dissatisfaction with the President’s nomination.

Previously, the union had called for the removal of three board members from the Tema Oil Refinery, alleging a compromise in the ongoing lease arrangement between the refinery and Torentco Asset Management Limited, now known as Tema Energy and Processing Limited.

In an interview with Umaru Sanda Amadu on Citi FM’s Eyewitness News on Tuesday, Bernard Owusu, the National Chairman of the Union, stated that Mr Appenteng was the one leading all the issues associated with TOR, including the controversial Torentco deal that the union opposed.

“First of all, this appointment is very disappointing and the national union of GTPCWU we are not happy, we are so disappointed in the President for appointing Leon Appenteng as the chairman of the TOR board. This is the same gentleman who has disgraced the government by leading the sticky Torentco deal which has not seen the light of day and is smeared with fraudulent activities that even the special prosecutor has said should be investigated.

Torentco Deal

Bernard Owusu added that the appointment of Leon Kendon Appenteng as the Board Chairman of TOR President Akufo-Addo signifies the government’s support for the Torentco deal.

The Torentco deal, which has been a subject of controversy, entails a six-year lease of the primary production assets of the TOR to Torentco Asset Management Limited (TAML). As per this agreement, Torentco would be authorised to refine up to 8 million barrels of oil annually, in return for an annual rent of $1 million.

“For us, we think that it is true what we were saying that the government or the presidency is in support of this Torentco deal. They have proven us right by appointing Mr Appenteng as the chairman of the TOR board and we are very disappointed.”