The Tema Oil Refinery (TOR) has vehemently refuted rumours suggesting negotiations for the sale of the refinery to Chinese-owned Sentuo Oil Refinery Limited.

In a statement released on Wednesday, April 10, and sighted by MyJoyOnline.com, TOR categorically stated that there have been no discussions regarding such a takeover, let alone the actual sale of the refinery.

The refinery emphasised that these allegations are baseless and should be disregarded by the Ghanaian public.

Earlier, the Alliance for Social Equity and Public Accountability (ASEPA) raised concerns regarding the purported sale of TOR to Sentuo Oil Refinery Ltd., citing information about a private meeting aimed at facilitating the sale.

However, TOR clarified that it has a contractual agreement with Sentuo Oil for storing some of its crude oil in the refinery's storage tanks.

TOR reiterated its commitment to fulfilling its duties for the benefit of Ghanaians.

"TOR cherishes its relationship with its stakeholders. Therefore, we will disclose any noteworthy adjustments or developments in a clear and open manner."

"As far as its activities are concerned, TOR Ltd. is steadfast in its commitment to promoting understanding and explicitly asserts that the management of the refinery has not been taken over by Sentuo Oil Refinery," the statement concluded.