TOR's recovery has created 1,657 permanent and temporary jobs - MD

The Managing Director of the Tema Oil Refinery (TOR), Edmond Kombat, has said that the refinery has recovered reserves.

He says the recovery has created 1,657 permanent and temporary jobs.

This includes 415 young engineers recruited into permanent positions, 301 temporary workers engaged for the CDU maintenance, 287 engaged for the RFCC maintenance, and 654 employed by 35 local contractors working at the refinery.

In effect, direct employment for 1,657 Young Ghanaian Engineers, and more than 6,500 indirect and temporary workers were engaged during the turnaround works.

He was speaking during the Government Accountability Series in Accra on Monday, October 26.

Kombat further explained that the Refinery recorded a remarkable improvement in product storage volumes, increasing from 426,954 metric tonnes in 2024 to 1,107,389 metric tonnes in 2025, representing an impressive 159.37% year-on-year growth.

In 2026, storage volumes increased further to 1,350,000 metric tonnes, representing an additional 21.91% growth over 2025.

Overall, this represents a 216.19% increase between 2024 and 2026, demonstrating significant growth in TOR's product storage activity and its contribution to Ghana's petroleum supply chain.

According to Edmond Kombat, the Refinery recorded a profit before tax of GH¢1.24 billion in 2025, its first return to profit in a decade.

Trade and other payables fell from GH¢7.1 billion to GH¢5 billion in a single year

The audited accounts for 2019 to 2024 were completed by April 30, 2026, followed by the 2025 accounts on May 30, 2026.

This brought the total to seven audited financial reports submitted to the State Interests and Governance Authority (SIGA) and presented at the company's 18th Annual General Meeting on June 30, 2026.

TOR also held its first AGM in a long time to consider a ten (10) year financial statement backlog covering 2017, 2018, 2019, 2020, 2021, 2022, 2023,2024,2025 to ensure transparency and accountability and meet statutory obligations.