In a significant move for Ghana’s oil industry, Tema Oil Refinery (TOR) has recently sought approval from Ghana’s Public Procurement Authority (PPA) to lease its main production assets to a company called Torentco Asset Management.
The proposal involves leasing TOR’s primary production assets to Torentco Asset Management, which would assume control of TOR’s core refining operations for a period of six (6) years.
Under this agreement, Torentco would have the authority to refine up to 8 million barrels of oil annually, paying an annual rent of $1 million.
Find Imani’s Assessment of the deal below;