Ghana’s premier refinery, Tema Oil Refinery (TOR), has been ranked the second-best institution in the Public Financial Management (PFM) Compliance League Table released by the Ministry of Finance.
Within the energy sector, TOR outperformed all state-owned agencies, including the supervisory Ministry of Energy and Green Transition, which ranked third.
The Ghana National Petroleum Corporation (GNPC) placed fourth, while the Petroleum Hub Development Corporation (PHDC) and the Petroleum Commission ranked seventh and ninth, respectively.
The refinery resumed crude processing in late December 2025 following major rehabilitation works.
For more than six years, refining had been halted due to a non-functioning crude refining unit and mounting debt.
Following a change in government, current management undertook rehabilitation, restored one processing unit, and ramped up output to 28,000 barrels per day.
In a statement, TOR welcomed the recognition and expressed gratitude to its staff and stakeholders for their collective effort in achieving what it described as a historic milestone.
“TOR remains committed to compliance across all facets of good corporate governance,” the statement said.
The PFM Compliance League Table, developed by the Ministry of Finance, fulfils the government’s commitment in the 2025 Budget Statement to publish an objective, evidence-based assessment of public institutions’ compliance with the Public Financial Management Act, 2016 (Act 921), its regulations, and related laws.
It benchmarks how institutions adhere to rules governing the use of public funds.
By ranking institutions constructively, the Ministry aims to deepen transparency, promote accountability, and encourage continuous improvement.
The table also highlights significant compliance gaps, underscoring the need for corrective action and stronger enforcement.
The Ministry said it will engage covered entities with low scores to help address the gaps.
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