Tema Oil Refinery (TOR) says its new management team is focusing on restoring financial discipline and engaging creditors to resolve inherited debts while working to revive operations at the state-owned refinery.
Speaking on The Pulse on March 11, the refinery’s Corporate Affairs Officer, Godwin Mahama Ayaba, said the turnaround effort is being driven by renewed leadership and stronger collaboration between the refinery, government, and the Ministry of Energy (Ghana).
“It is about leadership, and currently I can say without a shred of doubt that leadership has been restored at the refinery,” he said.
According to him, the renewed direction has also strengthened the government’s commitment to getting the refinery fully operational again.
“That is why we are seeing the support from the central government and the ministry. There is a clear willingness to ensure that the refinery works again,” he added.
As part of the recovery strategy, TOR plans to expand its refining capacity to 100,000 barrels per day, a move Mr Ayaba said will significantly boost operational output.
He also revealed that discussions are far advanced for the government to begin supplying crude oil from Ghana’s domestic oil fields to the refinery as feedstock.
“There is an advanced conversation between the agency, the ministry and the government for feedstock to be provided from our local or domestic fields,” he explained.
Crude from key offshore fields, including the Jubilee Field, could soon be allocated to TOR for processing, he said.
“Very soon, you will see government allocating portions of its interest in Jubilee and other fields to the refinery for refining,” he noted.
Mr Ayaba added that the refinery’s facilities are already configured to process Ghana’s locally produced crude oil, which could reduce the country’s dependence on imported refined petroleum products.
“The infrastructure is set up in such a way that we can refine our local crude,” he said.
The Tema Oil Refinery has faced years of operational and financial challenges, but authorities believe the ongoing reforms and new supply arrangements could position it to play a stronger role in strengthening Ghana’s energy security.