Tema Oil Refinery (TOR) Managing Director Edmond Kombat has been named Energy Sector Recovery Programme (ESRP) Champion of the Year 2026 by the Ministry of Energy and Green Transition, following a series of operational and financial gains at the state-owned refinery.
The recognition comes after TOR resumed crude oil refining in December 2025, ending several years of inactivity, and recorded its first annual profit in nearly a decade.
The refinery’s recovery has been driven by the completion of critical maintenance works, improved financial management, renewed crude processing and efforts to strengthen corporate governance.
According to the Ghana News Agency, TOR recorded a profit of about GH¢1.24 billion for the 2025 financial year, reversing years of losses. The State Interests and Governance Authority (SIGA) has also commended the refinery for its improved financial performance and submission of audited financial statements covering 2019 to 2025.
The financial turnaround followed a period of severe operational and financial difficulties that left the refinery struggling with accumulated debts, limited access to crude oil and prolonged production interruptions.
Return to refining
A major milestone under Mr Kombat’s leadership was the successful completion of turnaround maintenance on TOR’s Crude Distillation Unit (CDU), the facility’s primary crude-processing unit.
The maintenance works were undertaken between August 1 and October 30, 2025, after which the National Petroleum Authority (NPA) conducted inspections and cleared the refinery to resume operations.
TOR began refining crude oil on December 19, 2025, initially operating at approximately 28,000 barrels per stream day against its original nameplate capacity of 45,000 barrels per day.
The refinery also installed a new F-61 furnace as part of efforts to restore its original capacity, with further expansion envisaged.
The NPA subsequently commended Mr Kombat and his management team for reviving the refinery, describing the return to operations as an important development for Ghana’s downstream petroleum industry.
Financial recovery and accountability
Beyond the resumption of production, TOR has made progress in addressing longstanding financial and reporting challenges.
SIGA reported that the refinery’s trade and other payables declined from GH¢7.1 billion in 2024 to GH¢5 billion in 2025. Receivables management also improved, with the number of days taken to collect outstanding payments falling from 1,099 to 652.
The refinery recorded foreign exchange gains of approximately GH¢1.3 billion in 2025, while revenue from operations increased by about 18 per cent, according to reports on its financial performance.
However, the gains do not mean TOR’s financial challenges have been fully resolved. The refinery continues to face legacy debts, accumulated losses and liquidity pressures that could undermine its recovery if not addressed.
In June 2026, TOR also announced that it had received a one-million-barrel cargo of crude oil and resumed refining on June 3. The development formed part of efforts to sustain production and improve the refinery’s contribution to domestic petroleum supply.
By August 2026, the refinery had processed one million barrels of locally produced Jubilee Field Medium Sweet crude, marking a further step towards adding value to Ghana’s petroleum resources locally.
A collective achievement
Mr Kombat, in acknowledging the award, expressed gratitude to President John Dramani Mahama, Energy and Green Transition Minister Dr John Abdulai Jinapor, the TOR Board, management and staff for their support.
He said the recognition reflected the collective commitment, sacrifice and resilience of the refinery’s workforce.
He also described the award as a renewed call to pursue operational excellence, strengthen Ghana’s energy security and build a commercially sustainable and globally competitive refinery.
The recognition was presented at the Ministry of Energy and Green Transition’s annual retreat at Volta Serene in the Volta Region, where energy sector leaders reviewed performance in 2026 and outlined priorities for 2027.
Source: www.kumasimail.com
