‘No Takeover Of TOR Limited’

The Tema Oil Refinery ( TOR) has denied media reports alleging that the company has been taken over by Sentuo Oil Refinery.

A statement issued by TOR dated April 10, 2024, which seeks to set the record straight, said there is no iota of truth in the allegations.

Cooperation
According to the statement, TOR is presently only working with Sentuo in the area of crude storage. “Sentuo pays TOR to store some of its crude oil into the refinery’s storage tanks. When Sentuo is ready to refine the crude oil, TOR pumps it back to Sentuo,” the statement added.

Read the full statement: