Dr Matthew Opoku Prempeh, the Minister of Energy, on Tuesday inaugurated the newly constituted 11-member board of the Tema Oil Refinery (TOR) Company Limited in Accra and urged them to rise to the occasion.
The board includes Leon Kendon Appenteng as the chair, Kofi Mocumbi Tagoe as the Managing Director, and other members such as Dr Antoinette Tsiboe-Darko, Edith Sapare Grant, Nana Akua Bakoma Prempeh, Loraine Crabbe Ababio, Alfred Thompson, Joseph Mensah Browne, Kwame Baffoe, and Herbert Ato Morrisson.
Dr Prempeh highlighted that despite several interventions in the past, the company remains in distress, a situation that cannot persist.
He pointed out that the company is currently underperforming relative to its demand.
He emphasised the need for the board to view new entrants into the industry as collaborators rather than competitors.
The energy minister further stressed the necessity for TOR to make deliberate efforts to transform it into a modern, profit-oriented company.
“Despite several interventions in the past, TOR seems to remain in distress. This cannot and must not continue. There is enough demand in the country for what TOR’s core mandate stands for, and I urge you to see new entrants into the market more as your collaborators than your competitors per se.
“In that process, I urge you to be mindful that demand is not stagnant, and TOR must work hard towards becoming a viable player in this industry and to take advantage of the demand for your services.”
“I would want to urge TOR to make a deliberate effort to ensure that it becomes a modern day 21st century organization centered on profit-making as a State-owned company supporting the government of the day,” he stated.
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