The Acting Managing Director of the Tema Oil Refinery (TOR), Mr. Edmund Kombat, has revealed that the company has accumulated a total debt of $517 million after being inactive for the past four years.

Speaking during a visit by Parliament’s Energy Committee, Mr. Kombat explained that the debt includes trade-related arrears, unpaid crude oil supplies, and funds received from the Ministry of Finance. Some of the funds, initially classified as grants, were later changed to loans under an International Monetary Fund (IMF) agreement.

He also noted that two of TOR’s main production units have not been operating. The Crude Distillation Unit (CDU) has been shut down since 2021, while the Residue Fluid Catalytic Cracker (RFCC) has not worked since 2019.

Mr. Kombat said TOR is currently auditing its financial records to verify the debt and is making efforts to restart operations by October 2025.

He assured that the refinery is committed to turning things around and restoring public confidence.