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Tender Notice

Tema Oil Refinery (TOR) Limited invites from interested and eligible Insurance Brokerage Firms registered with the National Insurance Commission for the provision of Insurance Brokerage Services.

 

President Addressing Staff at the durbar during his working visit to TOR

President Pledges Government’s support to TOR

President John Dramani has pledged government’s commitment to support TOR in its operations by assisting the refinery to roll its capital base over the period and refinance its debt. He added that government had finalized the Single Point Mooring (SPM) and Conventional Buoy Mooring (CBM) contract agreement and announced that the CBM would be given to TOR to operate it.

The President gave the assurance at a staff durbar during his tour to the refinery on Monday, May 9.

He stated that government was ready to assist TOR revamp the existing CDU capacity of 45,000 to 60,000 barrels per stream day and also commence the planning process for the construction of a new 100,000 Crude Distillation Unit (CDU) at the refinery.

He indicated that these were geared towards re-establishing TOR as a viable entity and position its as one of the foremost state enterprises in Ghana.

President Mahama and Prime Minister of Trinidad and Tobago

President visits TOR with Prime Minister of Trinidad and Tobago

His Excellency John Dramani Mahama paid a working visit to TOR to familiarize himself with its operations and the current success story since the refinery resumed operations in February. He was accompanied by the Prime Minster of Trinidad and Tobago, His Excellency Keith Christopher Rowley who is in Ghana for a four-day state tour.

President Mahama expressed satisfaction with the synergy created between TOR and BOST which has contributed in turning TOR around. He commended staff for their commitment and hard work in achieving its current feat, becoming efficient producers and distributors of quality refined petroleum products. ‘I am of proud of workers of TOR for they have achieved’ the President said.

In line with his vision of making Ghana the downstream petroleum hub for West Africa, the President was happy the refinery had already exported about 30,000 metric tonnes of gasoline to a neighboring country.

The visit afforded the President and Dr. Keith Rowley the opportunity to acquaint themselves with the refinery’s processes and facilities during a tour of the processing plants.

Trinidad and Tobago is a leading oil and gas country which assisted Ghana with relevant expertise at the beginning of the country’s oil and gas discovery. Trinidad and Tobago also helped in putting the legislation in place to manage Ghana’s oil and gas industry.

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TOR Sustains operations

TOR has sustained its operations by processing a total of three million barrels of crude oil within four months. This has been possible due to the tolling arrangement between TOR and BOST.

Under the tolling arrangement, TOR received a million barrels of Erha Crude oil in January. The second million barrels of Qua Oboe crude was delivered in March and the third parcel of Bonga crude oil was received in April. TOR is paid an agreed fee by BOST for processing the said crude oil.

A fourth parcel of a million barrels of crude oil is expected in May.

The finished products after processing the crude oil are handed over to BOST for onward sales to the Bulk Distribution Companies (BDCs) and Oil marketing Companies (OMCs).

 

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TOR to Restructure Debts through the Issuance of Bonds

 

Tema Oil Refinery has initiated moves to clear debts on its books through the issuance of a zero coupon bond for a period of ten years. This is geared towards the accumulation of profits and capital for the refinery operations.

The Ag. Managing Director, made this known during the thanksgiving service held at the refinery on Friday April 29. He indicated that management has been able to reach an agreement with four banks for the bonds to be listed on the Ghana Stock Exchange.

TOR is equipped to process 45,000 barrels of crude oil per stream day and is currently processing under a tolling arrangement with BOST.

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Tema Oil Refinery Holds Thanksgiving Service

The Ag. Managing Director of TOR, Mr. Kwame Awuah Darko informed workers that the processing plants have been on stream since February enabling the company to generate significant profit. He indicated that the refinery was also restructuring its operations to become viable and competitive. Mr. Awuah Darko said these during the thanksgiving service held at the refinery on April 29th to thank God for his goodness.

In a sermon by Very Rev. Fr. Nicholas Larsey, the Minister in Charge of St. Francis Xavier Catholic Church, he commended the leadership and workers of TOR for their ingenuity in making TOR work. He admonished management and staff to be fruitful, multiply and subdue the earth (Gen.1:28)

The thanksgiving service was celebrated on the theme ‘Thanking God for smiling on TOR’. The program was laced with musical interludes by the Tema Youth Choir with prayer sessions by both invited and in-house religious leaders.

Management, invited guests and staff were also inspired by Uncle Ebo Whyte with timeless principles.

The refinery in the past years has been faced with operational challenges, but is currently undergoing a restructuring process by focusing on four business centers namely; fuel trading, transmission, refining and storage. TOR resumed full operations in February and has been able to process three million barrels of crude oil within the period.

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TOR Takes Delivery of a second Million Barrels of Crude Oil

TOR has taken delivery of a second million barrels of Qua Oboe crude oil from BOST as part of the tolling arrangement between the two companies.

The crude oil arrived March 24, and has been discharged into TOR tanks for processing through the Single Point Mooring on March 28, 2016.

The finished petroleum products derived from the crude oil will be handed over to BOST for onward sale to Bulk Distribution Companies (BDCs) and Oil Marketing Companies (OMCs)

 

President

President Commends TOR

The President has commended staff of Tema Oil Refinery and the Ag. Managing Director for their hard work and sacrifice to bring the refinery back on stream.

He made the statement during the State of the Nations Address in February 2016.

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RFCC Back on Stream

The Residue Fluid Catalytic Cracker unit is back on stream after six months of shutdown.

Feed in of the RFCC started on Thursday with 33,000 metric tons of Atmospheric Residue (AR). Quality Control analysis of the finished petroleum products namely LPG, gasoline and other semi-finished products indicates they are on specification and ready for the market.

 

 

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Crude Distillation Unit ready to process a Million Barrels of Crude Oil

The refinery has taken delivery of a million barrels of crude oil for processing at the Crude Distillation Unit (CDU). The CDU will come on stream Thursday February 11, 2016 to refine the 1,000,000 barrels of crude oil.

The crude arrived on January 28, 2016 at 16:30 hours on board MV Nantucket at the Single Point Mooring (SPM). The crude is under a tolling arrangement between TOR / BOST whereby TOR will be paid an agreed fee for processing the crude. The finished products would be handed over to BOST for onward sales to the market.