TOR MD Edmond Kombat reveals a GH¢1.24 billion profit for 2025, clearing a 10-year debt backlog while creating over 1,600 direct jobs at the refinery.

Published 26 Oct 2026, 13:34 GMTUpdated 26 Oct 2026, 13:43 GMT

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The Managing Director of the Tema Oil Refinery (TOR), Edmond Kombat, has announced that the refinery has recovered its operational reserves, creating 1,657 direct permanent and temporary jobs in the process.

This breakdown includes 415 young engineers recruited into permanent positions, 301 temporary workers engaged for Crude Distillation Unit (CDU) maintenance, 287 workers brought on for Residual Fluid Catalytic Cracking (RFCC) maintenance, and 654 people employed by 35 local contractors working at the facility.

In total, the turnaround works provided direct employment for 1,657 young Ghanaian engineers and created more than 6,500 indirect and temporary roles.

Kombat disclosed the figures during the Government Accountability Series in Accra on Monday, October 26.

He explained that the refinery recorded a remarkable improvement in product storage volumes, expanding from 426,954 metric tonnes in 2024 to 1,107,389 metric tonnes in 2025—an impressive 159.37% year-on-year growth.

In 2026, storage volumes climbed further to 1,350,000 metric tonnes, marking an additional 21.91% increase over 2025. Between 2024 and 2026, TOR achieved an overall 216.19% increase in storage capacity, strengthening its contribution to Ghana’s petroleum supply chain.

Financial performance also saw a dramatic turnaround. According to Kombat, the refinery recorded a profit before tax of GH¢1.24 billion in 2025, marking its first profitable year in a decade. Simultaneously, trade and other payables dropped from GH¢7.1 billion to GH¢5 billion in a single year.

Addressing TOR’s backlog of corporate governance obligations, Kombat noted that audited accounts for 2019 through 2024 were completed by April 30, 2026, with the 2025 financial statements finalized on May 30, 2026. This allowed the refinery to submit seven audited financial reports to the State Interests and Governance Authority (SIGA).

The company subsequently presented these reports at its 18th Annual General Meeting on June 30, 2026—clearing a decade-long financial statement backlog spanning 2017 through 2025 to restore statutory compliance, transparency, and accountability.

Laud NarteyLaud Nartey is a current affairs editor with the MG News team at Media General, serving TV3 Ghana, 3News, Onua TV and more platforms.

TOR's Recovery Creates 1,657 Permanent and Temporary Jobs - MD

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