Tema Oil Refinery (TOR) successfully held its 18th Annual General Meeting (AGM), bringing together key stakeholders including shareholders, the State Interests and Governance Authority (SIGA), the Ministry of Finance, and others. The event was graced by the Hon. Minister for Energy and Green Transition, Dr. John Abdulai Jinapor.
A notable highlight of the AGM was the presentation of nine years of audited financial statements covering 2017 to 2025. These accounts, audited by KPMG and the Ghana Audit Service, underscore a renewed commitment to transparency, accountability, and sound corporate governance at the refinery.
Most significantly, TOR reported a profit after tax of GH¢1.24 billion for the 2025 financial year, marking its first return to profitability since 2017. This achievement is a testament to the collective efforts of the Board, management, staff, government, and stakeholders. The turnaround is also aligned with President John Dramani Mahama’s Reset Agenda for State-Owned Enterprises (SOEs), emphasizing transparency, operational excellence, and revitalization.
As the refinery celebrates this historic milestone, TOR remains committed to restoring its status as a world-class energy facility, ensuring energy security, creating value for Ghanaians, and contributing to national economic transformation.
