The Tema Oil Refinery (TOR) has denied allegations of a takeover by a Chinese-owned private oil refinery, Sentuo Oil Refinery Ltd.
In a statement on Wednesday (10 April 2024), TOR said “Contrary to what has been alleged, no talks have taken place regarding the sale of the refinery, and no ceremony has been arranged to mark Sentuo’s acquisition of TOR. We have not entered into any unapproved mergers or acquisitions.”
“TOR cherishes its relationship with its stakeholders. Therefore, any noteworthy adjustments or developments will be disclosed in a clear and open manner,” it said.
“As far as its activities are concerned, TOR is steadfast in its commitment to promoting understanding and explicitly asserts that the management of the refinery has not been taken over,” the statement added.
Read the full statement below:
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