Tema Oil Refinery (TOR) has strongly denied allegations suggesting a potential takeover by Sentuo Oil Refinery, amidst claims of a meeting discussing the sale of the national refinery to the Chinese-owned private oil refinery.

Mensah Thompson, Executive Director of ASEPA, asserted in a statement on Monday, April 8, that there had been discussions between TOR management and Sentuo Oil Refinery Ltd regarding the sale of the national refinery.

However, TOR issued a statement on Wednesday, April 10, 2024, refuting these claims and emphasizing that no such talks have occurred regarding the sale of the refinery.

Additionally, TOR clarified that there are no plans for any ceremony marking Sentuo’s acquisition of TOR.

According to TOR, the current arrangement involves Sentuo paying for storage of some of its crude oil in TOR's storage tanks. When Sentuo is prepared to refine the crude oil, TOR facilitates the transfer back to Sentuo for processing.

TOR emphasized its commitment to transparency and maintaining strong relationships with stakeholders. They assured that any significant developments regarding the refinery would be promptly disclosed to the public.