TOR slashes debt from $650m to $300m, MD reveals
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The Tema Oil Refinery has lowered its debt from about $650 million to roughly $300 million. The reduction was achieved through a restructuring programme backed by the Energy Sector Levies Act. Managing Director Edmond Kombat announced the figures.
The Tema Oil Refinery (TOR) has reduced its debt burden from $650 million to about $300 million under a restructuring programme supported by the Energy Sector Levies Act (ESLA), Mr Edmond Kombat, Managing Director (MD) of TOR, has announced.