Tema Oil Refinery is back, ready to champion energy security

President John Dramani Mahama has declared Ghana's Tema Oil Refinery (TOR) operational, positioning it as a cornerstone of the nation's energy security and industrial development. The refinery, which has faced years of operational challenges, debt, and declining confidence, is now poised for a comeback.

The revitalization of TOR, including the refurbishment of its Crude Distillation Unit (CDU) and the restoration of other key facilities, showcases the government's dedication to reviving struggling state-owned enterprises. President Mahama highlighted that these improvements were achieved without direct government financial support, underscoring the new management's capabilities.

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Our vision for the Tema Oil Refinery extends far beyond the successful refurbishment of these facilities. We do not intend merely to keep TOR operating; we intend to make it more competitive, more efficient and more commercially viable.

"Our vision for the Tema Oil Refinery extends far beyond the successful refurbishment of these facilities. We do not intend merely to keep TOR operating; we intend to make it more competitive, more efficient and more commercially viable," President Mahama stated. He envisions TOR as a strategic driver of Ghana's industrial future, directing the Minister of Energy and Green Transitions to develop a plan for expanding its refining capacity from 40,000 to 100,000 barrels per day.

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I must say that because of the role of TOR in refining local crude and ensuring availability of petroleum products, Ghanaians have hardly felt the effects of the war involving Iran.

The refinery's renewed operations are particularly significant amidst global geopolitical tensions affecting crude oil supply. President Mahama noted that TOR's output, alongside that of a private firm, has helped stabilize petroleum product availability and pricing in Ghana. "I must say that because of the role of TOR in refining local crude and ensuring availability of petroleum products, Ghanaians have hardly felt the effects of the war involving Iran," he said.

Looking ahead, plans include restructuring TOR to shield it from political interference and align it with the government's economic transformation agenda. The refinery is expected to play a crucial role in expanding industrial production, supporting manufacturing, creating jobs, and enhancing Ghana's competitiveness within the African Continental Free Trade Area. "The revival of Tema Oil Refinery demonstrates that Ghana can rebuild its strategic institutions, add value to its resources and chart a path towards sustainable prosperity," the President concluded.

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The revival of Tema Oil Refinery demonstrates that Ghana can rebuild its strategic institutions, add value to its resources and chart a path towards sustainable prosperity.