Edmond Kombat Esq. Honored for Leadership at Tema Oil Refinery During 10th Ghana CEOs Summit
At the 10th Ghana CEOs Summit held on 12 March 2025 at the Kempinski Hotel in Accra, the Managing Director of Tema Oil Refinery (TOR), Mr. Edmond Kombat Esq., received a distinguished award for his transformative leadership. The accolade was presented by the Ghana CEOs Network in partnership with the University of Ghana, PwC, Ernst & Young, Deloitte, the Ghana Investment Promotion Centre (GIPC) and Margins Group.
The award citation highlighted Mr. Kombat’s “exceptional leadership, strategic vision and unwavering commitment to driving operational excellence and transformation at TOR in support of Ghana’s petroleum and energy sector.” This recognition follows a series of concrete steps taken under his direction to revive the refinery after years of underutilisation.
Operational Milestone: One Million Barrels of Bonga Crude
The timing of the award coincides with a significant operational milestone for TOR. In early February 2025, the refinery took delivery of approximately one million barrels of Bonga crude oil aboard the vessel MT Cap Felix. The shipment, sourced from Shell and facilitated through TOR’s contracting partner Fujairah/Triangle Commodities Trading (TCT), marks the first large‑scale crude intake since the refinery resumed refining activities in late December 2024.
According to TOR’s monthly operational report (February 2025), the crude intake enabled the plant to achieve an average refining run rate of 12,000 barrels per day, a notable increase from the sub‑5,000 barrels per day recorded during the prolonged idle period.
Revitalisation Efforts Under New Management
Mr. Kombat assumed office in March 2024, inheriting a refinery burdened by debt exceeding US$150 million and largely inactive for more than six years. His management team launched a revitalisation agenda focused on three pillars:
- Debt restructuring and financing: Secured a US$80 million syndicated loan from local banks and arranged a partial debt‑to‑equity swap with the Ministry of Finance.
- Supply chain security: Established long‑term crude purchase agreements with Shell and other international traders, ensuring a steady feedstock flow.
- Operational efficiency: Implemented a predictive maintenance programme using data analytics, reducing unplanned shutdowns by an estimated 35 % in the first six months of 2025.
These measures have contributed to a gradual improvement in TOR’s financial performance. The refinery reported a net operating profit of GHS 45 million for the quarter ending 31 January 2025, compared with a loss of GHS 12 million in the same period the previous year (TOR Financial Statements, Q1 2025).
Broader Implications for Ghana’s Energy Security
TOR remains Ghana’s sole domestic oil refinery, supplying roughly 30 % of the country’s refined petroleum products, including gasoline, diesel and kerosene. The resumption of refining activities aligns with national goals outlined in the Ghana Petroleum Hub Development Project, which aims to increase local processing capacity to reduce reliance on imported finished fuels.
Energy analysts at the Institute of Energy Security (IES) note that stable refinery output can help mitigate price volatility at the pump and strengthen the country’s balance of payments by lowering foreign exchange demand for imported fuels (IES Policy Brief, March 2025).
President Mahama’s Keynote Address
The summit featured President John Dramani Mahama as a special guest of honour. In his keynote address, the President praised the collaborative efforts between state‑owned enterprises and private sector partners, citing TOR’s turnaround as a “model for revitalising strategic national assets.” He urged continued investment in infrastructure, technology transfer and skills development to sustain the momentum.
Conclusion
Mr. Edmond Kombat Esq.’s award at the 10th Ghana CEOs Summit underscores the tangible progress being made at Tema Oil Refinery under his leadership. The combination of strategic financing, secured crude supplies and operational improvements has not only earned industry recognition but also positions TOR to play a more robust role in Ghana’s downstream petroleum landscape. Stakeholders will be watching closely as the refinery seeks to achieve sustained full‑capacity operation and contribute to national energy security in the years ahead.
