The Tema Oil Refinery (TOR) has denied allegations of a takeover by Sentuo Oil Refinery.

The denial comes after allegations that a meeting has been held to discuss the sale of the State’s refinery to the Chinese-owned private oil refinery.

On Monday, April 8, 2024, the Executive Director of ASEPA Mensah Thompson in a statement claimed that a meeting had been convened between TOR management and Sentuo Oil Refinery Ltd to deliberate on the sale of TOR.

However, TOR in a statement on Wednesday, April 10, 2024, stressed that no talks have held in relation to the sale of the Refinery.

According to TOR, Sentuo now pays them to store some of its crude oil in the refinery’s storage tanks. Sentuo then pumps the crude oil back to TOR when it is ready for refinement.

Furthermore, TOR stated that it appreciates its relationships with stakeholders and that it will promptly announce any important developments.