TOR MD sacked over Torentco deal

Ghana’s premier refinery, Tema Oil Refinery (TOR ), is boiling after the presidency sacked the Managing Director, Mr Jerry Kofi Hinson, which energynewsafrica.com can confirm.

Mr Jerry Hinson, under normal circumstances, does not go to work on Fridays but as a result of his dismissal, he went to the refinery on Friday, August 11, 2023, ostensibly to pack out.

After the dismissal, the Presidency, this portal understands, has appointed Mr Daniel Appiah, the immediate past Finance Director, as acting Managing Director and he is expected to assume the post on Monday, August 14.

Mr. Appiah went on retirement about two months ago after working in the refinery for several years.

Crime Of Jerry Hinson

It would be recalled that TOR had been in the Ghanaian media recently over an attempted lease of the refinery to a private firm, Torentco Assets Management, a firm registered about six months ago without a track record in the oil and gas business.

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.

Think tanks in the energy sector opposed the deal, arguing that the proposed deal was not in favour of the West African nation.

Despite the concerns raised by think tanks and some social commentators, it appears persons from the seat of government who are behind the deal still wanted the deal to go through.

Information from impeccable sources suggested that Mr. Jerry Kofi Hinson vowed not to sign the deal until the company fulfilled all the legal requirements.

Mr. Jerry Hinson, this portal gathered, came under pressure but stood his ground to ensure that the right thing was done.

However, his position appeared to conflict with people within the President’s circles who lobbied for his appointment and, therefore, pushed for his dismissal.

Mr. Jerry Kofi Hinson had failed to pick up several telephone calls by energynewafrica.com to him.

Appointment of Daniel Appiah

Sources within the refinery indicate that staff of the refinery are unhappy with the appointment of Mr. Daniel Appiah as acting Managing Director.

According to the workers, Mr Appiah was interdicted when Mr Awuah Darko was MD in the government of the National Democratic Congress and was part of the top management executives who were interdicted by the Interim Management Committee (IMC) under the current administration.

Taking to social media, the National Chairman of General Transport Petroleum and Chemical Workers Union, Brother Bernard Owusu wrote: “The incompetent Appiah cannot be Ag. MD of TOR.”

Source: Energynewsafrica.com