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TOR Says Only Business With Sentuo Oil is Crude Storage, as it Denies Takeover Claims

The statement comes on the back of allegations that the state refinery, which has ceased operations for a while now, had been sold to Sentuo Oil.

Management of the Tema Oil Refinery (TOR) says allegations of the state refinery’s sale to a private refinery owned by Chinese conglomerate, the Sentuo Group are untrue.

In a statement on Wednesday, TOR said neither parties have engaged in talks over the acquisition or sale of the state refinery. But rather indicating that it only worked with Sentuo Oil in the area of crude storage.

“Sentuo pays TOR to store some of its crude oil in the refinery’s storage tanks. When Sentuo is ready to refine the crude oil, TOR pumps it back to Sentuo. We have not entered into any unapproved mergers or acquisitions. The refinery, along with ambitions to enhance its terminal is steadfast in its objectives of restoring and resuming the operations of the processing plants and equipment,” the statement detailed.

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The statement comes on the back of allegations that the state refinery, which has ceased operations for a while now, had been sold to Sentuo Oil.

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The Alliance for Social Equity and Public Accountability (ASEPA) on Monday said it was invoking the Right to Information (RTI) law to probe the claims.

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