Mr. Isaac Osei, the Managing Director of the nation’s refinery has resigned.
It comes as a surprise why the TOR MD resigns at this time. The nation’s refinery has not been spared its troubles at the turn of the decade. Troubles have ranged from continuous dormant operational periods, explosion of plant, crippling debts and mass exodus and agitations of staff. However the storms seem to have been settling for the nation’s refinery in the last couple of years.
TOR’s New Deal
A couple of weeks ago, TOR secured a deal to refine crude for a local oil trading company and its international partner. The deal is for TOR to process 11 million barrels of crude oil for Woodfields Energy Resources Limited This was described by Mr. Isaac Osei as a landmark move. Considering how many times TOR has started and stopped operations, this was a refreshing news.
This was seen by analysts as a regained confidence in the institution. TOR MD, Mr. Osei, further disclosed that more of such deals are on the way and the refinery is on the way to recovery. Though a fragile recovery, if the current pace of development is maintained TOR would take back its place in the oil industry.