The Tema Oil Refinery (TOR) has proudly announced its significant recognition as one of the top-performing institutions in the Public Financial Management (PFM) Compliance League Table. This prestigious ranking, released by the Ministry of Finance on March 19, 2026, places TOR specifically as the second-best performing institution, marking a historic milestone in its journey towards strengthened corporate governance and financial accountability.

In a statement shared on its official Facebook page, TOR management expressed profound gratitude to its dedicated staff and invaluable stakeholders. The refinery highlighted that this achievement is a direct reflection of a collective commitment to upholding stringent public financial management standards and fostering a culture of accountability and transparency across all facets of its operations. The recognition underscores the dedication of its workforce and the consistent support from its partners in promoting exemplary financial management practices.

Management emphasised that this honour is a testament to TOR’s unwavering commitment to compliance, not just within financial management, but also in operational accountability and stakeholder engagement. The statement conveyed, “We are honoured by this recognition, and on behalf of Management, Tema Oil Refinery extends its gratitude to all staff and stakeholders for their collective effort in achieving this historic milestone.”

The PFM Compliance League Table itself is an initiative by the Ministry of Finance designed to assess and rank public institutions based on their adherence to fiscal rules and regulations, including the Public Financial Management Act, 2016 (Act 921). Its primary objective is to enhance transparency and accountability in the use of public funds across government entities. TOR’s strong performance within the Ministry of Finance’s portfolio of institutions reinforces its role as a model of good governance in Ghana’s public sector.

Reaffirming its dedication, TOR pledged to continue maintaining high standards of corporate governance and ensuring sustained compliance in the years ahead. The refinery encouraged its staff to build on this momentum, working collaboratively to further embed excellence in financial management and operational integrity, thereby solidifying its position as a leader in public sector governance.