• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

New private refinery threatens TOR’s dominance despite securing strategic deal with Vitol, Decimal

3 years ago
in Economy, Energy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
1
571
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

New private refinery threatens TOR’s dominance despite securing strategic deal with Vitol, Decimal

Tema Oil Refinery’s (TOR) dominance in the crude oil refinery space is being threatened by the near-completion of a new private crude oil refinery plant.

The new refinery plant named Sentuo Refinery, per reports, has a refinery capacity three times the size of TOR.

When fully operational, the refinery is estimated to refine over 120,000 barrels of crude oil per day, as against TOR’s 45,000 barrels of crude oil per day.

Annually, it is estimated to churn out 1.5m metric tonnes of refined crude oil.

Information reaching norvanreports, indicates that, already, some top engineers with many years of experience at TOR are being poached to the new private oil refinery.

The new development comes on the back of a recent strategic deal struck between TOR and its new investors – Vitol and Decimal Capital.

RelatedPosts

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

Black Stars Begin 2026 World Cup Qualifying Campaign with Training in Accra; Set to Depart for Chad Today

Qatar Seeks to Deepen its Influence in Africa With $103bn Investment Pledge

Per the deal, Vitol and Decimal Capital will provide funding to restore refinery components of TOR, known as the Crude Distillation Unit as part of the Phase One of the deal.

Vitol and Decimal Capital per the deal are to operate and maintain the refinery. The two strategic partners, also as part of the deal, will clear some of the legacy debt of the defunct national refinery.

The strategic partners are also expected to cater for the utility tariffs of the refinery.

According to reports, the deal has already been signed and currently waiting for cabinet approval.

Source: norvanreports
Tags: DecimalNew private refinery threatens TOR’s dominance despite securing strategic deal with VitolTema Oil RefineryVitol and Decimal Capital

Comments 1

  1. Kwasi Addo says:
    3 years ago

    Very good idea. This will provide the much needed competition to TOR. It will create employment. Add value to our crude oil, thus generate foreign exchange which we need badly.
    Provide industrial exposure to our youth and also expand further the Ghanaian market.

No Result
View All Result

Highlights

Bundesliga Faces Critical Challenge as Premier League Flexes Financial Muscle

US Open: Osaka Dominates Gauff; Swiatek Rolls into Quarters

GLD Posts First Price Gain in September as Market Indices Remain Unchanged

Samba Foods Signs MoU With Unifa Brothers to Revamp Production Lines

Methodist Church Ghana to Launch Connexional Entrepreneurship Programme – Presiding Bishop Asamoah-Gyadu Discloses

Rt. Rev. Emmanuel Ansah Urges Graduates to Embrace Failure as Methodist Church Ghana Outdoors First Cohort of Wesleyan Entrepreneurship School

Trending

Business

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

September 2, 2025

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong...

Black Stars Begin 2026 World Cup Qualifying Campaign with Training in Accra; Set to Depart for Chad Today

September 2, 2025

Qatar Seeks to Deepen its Influence in Africa With $103bn Investment Pledge

September 2, 2025

Bundesliga Faces Critical Challenge as Premier League Flexes Financial Muscle

September 2, 2025

US Open: Osaka Dominates Gauff; Swiatek Rolls into Quarters

September 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.