Tema Oil Refinery (TOR) has recorded four major milestones within a ten-day period, beginning May 27, 2026, in what observers describe as a significant turnaround in the company’s operational and financial fortunes.

The developments include renewed crude oil supply arrangements, improved operational activity, leadership recognition, and strong financial performance.

The first milestone was the announcement by TOR that it had received a parcel of crude oil for refining.

The development was widely welcomed, given that the refinery had not processed crude oil since 2018.

In a second development, the President of the Republic disclosed that government had finalised arrangements to supply TOR with crude oil from Ghana’s domestic oil fields.

The move has been described as a major step in addressing longstanding concerns about feedstock supply to the refinery and reviving its refining operations.

A third highlight was the recognition of TOR’s Managing Director, Edmond Kombat, at the 10th CEO’s Summit Awards 2026, where he received the Outstanding Public Leadership Excellence in the Public Sector Award.

The award was cited as recognition of leadership efforts in repositioning the refinery for recovery and growth.

The fourth milestone came from the State Interests and Governance Authority (SIGA), which reported that TOR recorded a profit before tax of GHS1.24 billion in 2025, based on its audited financial statements. SIGA also noted that the refinery had successfully cleared a backlog of unaudited accounts dating back to 2019.

The financial performance marks one of the strongest results in TOR’s recent history and the first time in over a decade that the refinery has posted such significant profitability.

The developments are being attributed to improved management practices, strengthened governance, and renewed operational activity within the refinery.

Appreciation has been expressed to the management, staff, and Board of Directors of TOR for what has been described as their efforts in steering the company toward recovery.

The Board, chaired by Bilijo Nayon, has been credited with providing strategic direction aimed at restoring TOR’s operational stability and long-term sustainability.