Ghana spends roughly US$400 million each month importing petroleum products. The burden could ease significantly if the Tema Oil Refinery (TOR) returns to full operations, said the refinery’s Deputy Managing Director, Alhaji Mustapha Abubakar.
Speaking on CTV’s Oman Ghana Nkusuɔ morning programme, Abubakar described TOR as a strategic national asset. He said reviving it is critical to Ghana’s energy security and economic stability. He urged the government to treat TOR with the same priority as institutions such as COCOBOD and GoldBod.
Abubakar warned that Ghana’s reliance on imported fuel is no longer sustainable. Continued dependence exposes the economy to price shocks and foreign exchange pressures. He noted that if TOR operates at full capacity, alongside the Akwaaba Refinery and other facilities, the country could refine enough crude locally to cut fuel imports by at least 50 percent.
Government Commitment and Planned Expansion
Since his appointment last year, together with Edmond Kombat, Abubakar said management has worked closely with the government to restore the refinery. He recalled President John Dramani Mahama’s 2024 campaign promise to return TOR to full capacity, describing it as a strategic asset.
Currently, TOR produces about 28,000 barrels per day, far below Ghana’s estimated national demand of 112,000 barrels per day. Abubakar said production will rise sharply once a new furnace becomes operational.
“When the new furnace comes online, production will reach about 60,000 barrels per day,” he said. “This will significantly boost domestic refining capacity.”
Abubakar also highlighted TOR’s historical role. He noted that Dr. Kwame Nkrumah established the refinery to secure Ghana’s energy needs through local processing.
Optimising Output for Economic Growth
Abubakar acknowledged financial and operational challenges but said management has implemented measures to increase efficiency, cut costs, and optimise output. These actions aim to reduce TOR’s reliance on tolling arrangements and improve long-term sustainability.
He emphasized that reviving TOR goes beyond fuel supply. “Restoring the refinery is essential not just to cut imports but to support industrial growth and strengthen the broader economy,” he said.