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July 16, 2026
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Government targets 70% local fuel supply through TOR, Sentuo expansion
Money
Policy
Opportunity
Growth
Key Points
- Ghana aims to meet approximately 70% of its domestic refined petroleum demand through local production.
- This target will be achieved upon completion of expansion works at the Tema Oil Refinery (TOR) and Sentuo Oil Refinery.
- The government is pursuing a deliberate strategy to strengthen energy security, reduce reliance on imports, and retain more value from Ghana's crude oil.
- A strategic allocation of Jubilee crude oil to TOR is part of the government's commitment to revitalizing the refinery.
- Increased local refining is expected to ease foreign exchange pressure, improve the balance of payments, and stimulate economic activity by creating jobs and business opportunities.
Why This Matters
This initiative is crucial for Ghana's energy security and economic stability, significantly reducing dependence on imported petroleum products and easing pressure on foreign exchange. It also aligns with a broader vision to transform Ghana into an industrial hub that processes its own resources, fostering job creation and economic growth.
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