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The TOR – Torentco Deal: Smoke & Mirrors

In a significant move for Ghana’s oil industry, Tema Oil Refinery (TOR) has recently sought approval from Ghana’s Public Procurement Authority (PPA) to lease its main production assets to a company called Torentco Asset Management. The proposal involves leasing TOR’s primary production assets to Torentco Asset Management, which would assume control of TOR’s core refining operations for a period of six (6) years. Under this agreement, Torentco would have the authority to refine up to 8 million barrels of oil annually, paying an annual rent of $1 million.

Find Imani’s Assessment of the deal below;


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