The government has announced plans to reassess the operations of the Tema Oil Refinery (TOR) as part of efforts to revamp the facility and to increase Ghanaian participation.
This move aligns with the local content policy, which aims to empower indigenous businesses and strengthen national capacity in the petroleum sector.
Minister for Energy and Green Transitions, Mr John Jinapor, has engaged industry stakeholders, stressing the importance of local entrepreneurs leading any restructuring or investment efforts at the refinery.
“Our refinery is a key part of our broader vision. If Ghanaian entrepreneurs take charge of this process, it will greatly benefit the country,” he stated.
He reiterated that the government would prioritize local investors in TOR’s revamp, adding, “We will take a second look at Tema Oil Refinery, but in line with our local content policy, we want to give the first option to Ghana’s business leaders. Where there are capacity gaps, I am confident you can find ways to bridge them.”
The reassessment of TOR comes as Ghana seeks to enhance its domestic refining capacity and reduce reliance on petroleum imports.
Nonetheless, the refinery has faced significant operational and financial challenges in recent years, prompting calls for strategic investments and reforms.
Experts suggest that the government must emphasize the need for a clear roadmap to ensure long-term sustainability, efficiency, and competitiveness in the sector.
