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The Centre for Environmental Management and Sustainable Energy (CEMSE) has called on Edmond Kombat, the newly appointed Managing Director of the Tema Oil Refinery (TOR), to take bold measures to restore the struggling state-owned refinery to financial health.
According to the Centre, TOR’s persistent operational and financial troubles require urgent reforms, including reducing its bloated workforce and repositioning its public image.
CEMSE’s Executive Director, Benjamin Nsiah, praised Kombat’s elevation from Deputy MD but said his first order of business should be a critical review of the refinery’s staffing situation.
“Kombat must do some introspection because TOR has a lot of redundant staff,” Nsiah stated. “The company must implement cautionary measures, including a retrenchment exercise, to ensure it becomes cash-flow viable and improves its liquidity position to attract international and other investors.”
He emphasized that the issue of redundancy is hampering efficiency at the refinery. “He must muster the courage to lay off some workers, as the redundancy at TOR is overblown and negatively affects the company’s ability to operate efficiently,” Nsiah added.
Beyond streamlining the workforce, Nsiah advised the new MD to spearhead a comprehensive rebranding strategy aimed at rebuilding confidence in TOR.
“TOR urgently needs rebranding. Most of the time, news about the refinery is negative. We believe there must be a deliberate effort to present TOR as a world-class, sub-regional refinery, comparable to others in the region,” he said.
Nsiah further noted that rebranding would help the refinery attract much-needed investments. “This rebranding is essential to attract the necessary investments, including upgrading obsolete infrastructure, acquiring new tools and equipment, and securing capital financing to boost the refinery’s operations,” he stressed.
The call from CEMSE comes at a critical time as TOR continues to seek viable solutions to return to profitability and regain its relevance in the region’s energy sector.
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