Tema Oil Refinery Managing Director Jerry Kofi Hinson Resigns On Health Grounds: "It Has Been An Honour"

• The Managing Director of the Tema Oil Refinery, Jerry Kofi Hinson, has resigned after 18 months in the position
• Hinson cited unforeseen health concerns as the reason for his resignation in a letter to President Nana Akufo-Addo
• Hinson noted that he had been involved in the difficult process to find a private partner for the refinery

The Managing Director of the Tema Oil Refinery, Jerry Kofi Hinson, has stepped down from his position because of health reasons.

In his resignation letter to President Akufo-Addo sighted by YEN.com.gh, Hinson said these health concerns were "unforeseen."

He also said it had been a privilege and honour to serve as the Managing Director for Tema Oil Refinery for the past 18 months.

Hinson in his letter also noted that he had been in the controversial process to lease the Tema Oil Refinery to a private firm.

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“Working in partnership with the Board of Directors and Management, we have undertaken the daunting task of identifying a suitable entity to partner with TOR to revamp its operations in a sustainable and profitable way," he said.

He described the process as long and arduous, resulting in the selection of a potential partner, said to be Torentco Asset Management.

Hinson added that he was committed to ensuring a smooth transition as he left the company.

The controversial TOR-Torentco deal

YEN.com.gh earlier reported that the board of TOR sought approval from the Public Procurement Authority (PPA) to give the green light for the main production assets of the refinery to be leased to Torentco.

A report by IMANI, a think tank that is also against the deal, explained that under the deal, TOR’s primary production assets would be leased to Torentco for six years.

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During this lease period, Torentco would be in charge of TOR's operations and will refine up to 8 million barrels of oil per year and pay $1 million annually to the state as rent.

Pressure mounting to halt the deal

YEN.com.gh reported that civil society groups and experts in the downstream petroleum sector have also called on the government to halt the lease of the refinery.

For instance, the Chamber of Oil and Petroleum Consumers said Torentco Asset Management does not have experience in running a refinery.

But workers at the refinery are in support of the deal and have backed the moves by the government.

Source: YEN.com.gh