By Laudia Anyorkor Nunoo
Tema, Sept. 01, GNA – The Tema Oil Refinery Company Limited (TOR) has returned to profitability, recording a net profit of GH¢1.093 billion in 2025, after posting a net loss of GH¢745.27 million in 2024.
The turnaround was highlighted by the State Interests and Governance Authority (SIGA) in its 2025 State Ownership Report, which identified TOR among state-owned enterprises that moved from negative financial results in 2024 to positive results in 2025.
According to the report, TOR’s 2025 profit represented an improvement of about GH¢1.84 billion over its 2024 loss.
SIGA described the development as TOR’s “first profit in almost a decade”, placing the refinery among six prominent state-owned entities that recorded significant turnarounds during the year under review.
The refinery’s performance formed part of a broader improvement in the financial position of Ghana’s state-owned enterprises (SOEs), which collectively returned to profitability after four consecutive years of net losses.
The refinery, the Ghana News Agency (GNA) gathered, also recorded a substantial increase in revenue, which rose by 172.03 per cent year-on-year to GH¢1,970.88 million in 2025.
TOR also controlled total assets valued at GH¢3,434.90 million during the year under review.
GNA
Edited by Kenneth Odeng Adade
Reporter: Laudia Anyorkor Nunoo
Email: [email protected]