{"id":208166,"date":"2025-06-23T17:04:10","date_gmt":"2025-06-23T17:04:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/208166\/"},"modified":"2025-06-23T17:04:10","modified_gmt":"2025-06-23T17:04:10","slug":"tors-debt-increases-to-517-million-as-of-december-2024","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/208166\/","title":{"rendered":"TOR&#8217;s debt increases to $517 million as of December 2024"},"content":{"rendered":"<p class=\"article-image\"><a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/business\/TOR-s-debt-increases-to-517-million-as-of-December-2024-1988875?gallery=1\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/62974167.295.jpg\" alt=\"Edmond Kombat is the Acting Managing Director of Tema Oil Refinery\" title=\"Edmond Kombat is the Acting Managing Director of Tema Oil Refinery\" width=\"295\" height=\"177\" \/> <\/a>Edmond Kombat is the Acting Managing Director of Tema Oil Refinery<\/p>\n<p id=\"article-123\">The Tema Oil Refinery&#8217;s (TOR) debt has surged to $517 million as of December 2024, largely due to operational liabilities and government accounting changes.<\/p>\n<p>The state-owned refinery&#8217;s Acting Managing Director, Edmond Kombat, said the debt includes trade obligations and unpaid crude oil supplies.<\/p>\n<p>Also, some grants from the Ministry of Finance were reclassified as debt as part of the government&#8217;s IMF agreement, contributing to the increased liabilities.<\/p>\n<p>He noted that verification process is underway to confirm the debt amount, which will be publicly disclosed once completed. <\/p>\n<p>&#8220;We are doing that verification, and as I mentioned, once we do that verification and authentication of what we have been able to bring down, that will be communicated publicly,&#8221; he said.<\/p>\n<p>TOR&#8217;s management is working to rectify the situation, prevent future occurrences, and restore the refinery&#8217;s operations, with plans to resume full operations by October 2025 after a prolonged shutdown due to crude supply\u00a0issues<\/p>\n<p>DR\/MA<\/p>\n<p><b>Ever heard of Nkofie, the legendary Kwahu cave believed to grant wishes? Join GhanaWeb&#8217;s People &amp; Places as we take you on an exclusive tour of this mystical site:<\/b><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Edmond Kombat is the Acting Managing Director of Tema Oil Refinery The Tema Oil Refinery&#8217;s (TOR) debt has&hellip;\n","protected":false},"author":2,"featured_media":208167,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,16,15],"class_list":{"0":"post-208166","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114733768169748619","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/208166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=208166"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/208166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/208167"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=208166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=208166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=208166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}