Comprehensive  Ghana Oil and Gas news, information, updates, analysis


Is the government quietly leasing TOR to a shadowy group in a shady deal worth $22 million?

  • SOURCE: Reporting Oil and Gas | qwesa2big
    • POSTED ON: June 19, 2023

    The Vice President of IMANI Africa, Bright Simons, has stated that the government’s Public Procurement Authority is quietly leasing the Tema Oil Refinery to a shadowy group called Torentco Asset Management (TAM)
    He explained that the refinery will be leased to TAM for 6 years where
    Torentco is allowed to refine up to 8 million barrels of oil a year by paying $1 million every year as annual rent
    He added that the group will also pay an additional rent amount of $1.067 million per month.
    Under the deal, according to Bright Simons, will pay $0.5 for each extra barrel if it refines more than 8 million barrels.
    He wrote on Twitter on June 16, 2023: “Ghana’s PPA is trying to pass the buck of tackling the govt’s shady lease of state-owned Tema Oil Refinery to Torentco (TAM). Here is a crude summary of the deal.
    Many murky issues!”
    $22m is all one needs to take over TOR’s assets & exploit? Has
    TOR been deliberately sabotaged?” he asked.

    Tagged ,

    Leave a reply

    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes ( with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Twitter Activity Stream

    Partners We are proud to be associated with:

    Skip to toolbar