The Board of Directors (BoD) at the Tema Oil Refinery (TOR) has strongly denied claims of mismanagement made by the General Transport and Petroleum Chemical Workers Union (GTPCWU).

The union expressed concerns about the condition of TOR, accusing the BoD of mismanagement and opposing the proposed lease agreement with Torentco Asset Management Group.

Bernard Owusu, the Union's National Chairman, criticized the TOR Board for failing to secure a "genuine partner" to revive the refinery and called for it to be dissolved.

“The Board of Tema Oil Refinery has exhibited some sort of incompetent attitude that we have been complaining about for the past 18 months, and it seems like authorities are not adhering to our call. A board that has been instituted for almost 2 years, has not been able to get a very genuine partner to take over the affairs of the refinery to ensure that the refinery runs smoothly,” he ealier said.

However, the TOR Board released a statement on Friday October 6 condemning the allegations.

It described the accusations as “false, unfounded and derogatory”, and an attack on the rights and safety of its members.

The Board emphasized that its members were “highly qualified and respected individuals” dedicated to guiding and overseeing the company's strategy, performance, and governance.

TOR also stressed that it had always acted with integrity, professionalism, and in the best interests of the company, shareholders, and stakeholders.

The Board however deemed the Union's description of them as “incompetent” to be an affront to it’s dignity, and announced that they had initiated investigations to clarify the circumstances behind the media reports.

It further pledged to take appropriate actions to restore TOR's reputation.

Furthermore, the Board committed to addressing any issues or misunderstandings among the workers and ensuring a safe, respectful, and productive work environment at TOR.

See the statement from TOR Board of Directors below:

RESPONSE OF TOR BOARD TO ALLEGATIONS BY UNION OF GTPCWU

The Board of Directors of Tema Oil Refinery (TOR) condemns in no uncertain terms, the allegations levelled against it in the media on 4th October 2023 by the TOR PMSU of GTPCWU and the TOR Divisional Union of GTPCWU. The Board ALSO takes serious exception to the threats issued and treats the act with all the disdain THEY deserve.

The allegations made are false, unfounded and derogatory and the Board views them as an attack on the fundamental freedom of its members and a threat to their very lives. The plain insults and calling of names by executives of the Union of GTPCWU is a dent on the hard won reputation of the distinguished members of the Board. It has exposed them to public ridicule and contempt.

The Board of TOR is composed of highly qualified and respected individuals who have dedicated theirtime and expertise to guide and oversee the Company's strategy, performance and governance. The mandate of the Board among other things is to develop strategic plans, policies and procedures to ensure the effective operations of the Company. It does not engage in the day-to-day administration of TOR.

We state categorically that the Board has always acted with integrity, professionalism and in the best interest of the Company, its shareholder and stakeholders generally. It has worked assiduously from the day it was appointed and has never relented on its duty to serve TOR; neither has it engaged in any misconduct or abuse of power as it continues to work and identify opportunities to add value to the premier Refinery of the Country.

Describing the Board as incompetent by the Union of GTPCWU is therefore an affront to their very dignities and must be treated with contempt.

This notwithstanding, the Board has taken the allegations seriously and has commenced investigations to ascertain the circumstances leading to the media reports and will take whatever appropriate action required to clear its reputation.

The Board will also take the necessary steps to address any issues or misconceptions which have arisen among these workers and to ensure a safe, respectful and productive work environment for everyone at TOR.

We ask for your patience and understanding as we work to resolve the situation as quickly and fairly as possible.

The Board of Directors of TEMA OIL REFINERY (TOR) LIMITED

-ENDS-



ID/MA

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