TOR Ranks 2nd in PFM Compliance League Table; Management Commends Staff, Stakeholders
Management of the Tema Oil Refinery (TOR) has welcomed its ranking as the second-best institution in the Public Financial Management (PFM) Compliance League Table released by the Ministry of Finance.
In a statement, TOR described the recognition as a major milestone in the refinery’s history, attributing the achievement to the collective efforts of its staff and stakeholders.
“We are pleased to announce our recognition as the second-best institution in the Financial Management Compliance League Table released on March 19, 2026, by the Ministry of Finance,” the statement said.
According to management, the ranking reflects the refinery’s adherence to sound financial management practices and its commitment to accountability and transparency.
“On behalf of management, Tema Oil Refinery extends its gratitude to all staff and stakeholders for their collective effort in achieving this milestone,” the statement added.
TOR reaffirmed its commitment to sustaining high standards of compliance and strengthening corporate governance practices.
The refinery placed second behind the Environmental Protection Authority (EPA), with the Ministry of Energy and Green Transition ranking third.
The PFM Compliance League Table, launched on March 19, 2026, is a transparency and accountability initiative aimed at strengthening fiscal discipline and improving the management of public resources across government institutions.
The Ministry of Finance explained that the league table fulfils a commitment made in the 2025 Budget Statement to publish an objective, evidence-based assessment of compliance with the Public Financial Management Act, 2016 (Act 921) and related regulations.
The ranking serves as a performance benchmarking tool, measuring how well public institutions adhere to established financial management rules and procedures.
It also highlights compliance gaps, providing a basis for corrective actions and stricter enforcement measures to enhance accountability and promote efficient use of public funds.
