TOR records 216% increase in product storage volumes between 2024 and 2026

The Tema Oil Refinery (TOR) has recorded a 216.19 per cent increase in product storage volumes between 2024 and 2026, as management intensifies efforts to restore the refinery’s commercial operations and strengthen its role in Ghana’s petroleum supply chain.

Managing Director Edmond Kombat said storage volumes increased from 426,954 metric tonnes in 2024 to 1,107,389 metric tonnes in 2025, representing year-on-year growth of 159.37 per cent.

The volume increased further to 1,350,000 metric tonnes in 2026, an additional 21.91 per cent rise over the 2025 figure.

Speaking at the Government Accountability Series at Jubilee House on Monday, October 26, 2026, Mr Kombat said the figures demonstrated significant growth in TOR’s storage activities and its contribution to the petroleum industry.

“Overall, this represents a 216.19% increase between 2024 and 2026, demonstrating significant growth in TOR’s product storage activity and its contribution to Ghana’s petroleum supply chain,” he said.

The Managing Director said the improvement formed part of a broader recovery effort aimed at restoring confidence among petroleum service providers, increasing commercial activity and preparing the refinery for long-term sustainability.

When the current management assumed office in May 2025, TOR’s major processing units were inactive, leaving the company largely dependent on renting out storage space to petroleum service providers.

The CDU had been out of operation since April 2021, while the RFCC unit had been shut down since 2019.

Management subsequently introduced measures to improve cash controls, extend operating hours at the loading gantry and strengthen accountability in product handling.

Mr Kombat said these interventions helped restore confidence among private petroleum companies and regional partners, encouraging them to store and lift products through the refinery.

The company also resumed crude processing on December 19, 2025, following the completion of turnaround maintenance on the CDU.

He said the refinery’s recovery had been supported by collaboration with institutions including the National Petroleum Authority, the Ghana National Petroleum Corporation, GOIL and the Bulk Oil Storage and Transportation Company.

Mr Kombat said the improved storage activity, together with the resumption of refining operations and renewed crude supplies, had positioned TOR to make a stronger contribution to Ghana’s petroleum supply chain.