By Celestine Avi and Seth Eyiah
Ghana’s petroleum industry is set for a major transformation as the Tema Oil Refinery (TOR) returns to full-scale operations following the refurbishment of its Crude Distillation Unit (CDU) and the arrival of Ghana’s first one-million-barrel Jubilee crude cargo for domestic refining.
President John Dramani Mahama says the development represents a shift from exporting raw resources to creating more value locally through refining, industrial production and job creation.
Speaking at the commissioning of the refurbished facility in Tema, President Mahama said countries that achieve sustainable economic transformation are those that develop the capacity to process their own resources.
“Nations become prosperous by adding value to what they produce, by developing local industries and by creating opportunities for their own people.”
He said the restoration of TOR will help Ghana reduce dependence on imported petroleum products, conserve foreign exchange and strengthen national energy resilience.
The President noted that the refinery has already processed two million barrels of crude into finished petroleum products including gasoline, gas oil, aviation turbine kerosene, liquefied petroleum gas and residual fuel oil.
He said the increased refining capacity of TOR, alongside other local refining initiatives, has helped Ghana withstand global disruptions in petroleum supply.
“Every improvement in refining capacity reduces our dependence on imported petroleum products, and every increase in operational efficiency conserves valuable foreign exchange.”
President Mahama said government’s ambition goes beyond restoring TOR’s current operations, explaining that plans are underway to expand the refinery’s capacity to 100,000 barrels per day.
He added that TOR will play a critical role in government’s broader industrialisation agenda, including the 24-hour economy initiative, by supporting manufacturing, increasing production and creating quality jobs.
The President said companies operating round the clock will receive incentives such as tax reliefs, favourable energy tariffs and duty-free importation of capital goods to expand their operations.
He described TOR’s revival as a demonstration of Ghana’s ability to rebuild strategic institutions and position them to support long-term economic growth.
“We do not intend merely to keep TOR operating. We intend to make TOR more competitive, more efficient and more commercially viable.”
President Mahama said the ultimate goal is to transform Ghana into a leading petroleum refining, storage and logistics hub in West Africa, adding value to the country’s resources and strengthening its industrial base.
