COPEC calls for revamp of Tema Oil Refinery
By Ernest Afram
Key stakeholders in Ghana’s energy sector are urging the government to take decisive steps toward the full rehabilitation and operationalization of the Tema Oil Refinery (TOR) as a matter of national priority.
Their appeal follows an announcement by TOR that it intends to resume full operations by October 2025. Energy experts say this long-overdue development could significantly reduce Ghana’s reliance on imported refined petroleum products, lower costs, and help shield the country from the volatility of the global oil market.
Currently, Ghana imports nearly all of its refined fuel products, making the country vulnerable to fluctuations in international prices and foreign exchange pressures. A functional refinery is therefore seen as a critical pillar for achieving energy self-sufficiency and macroeconomic stability.
Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, believes TOR’s planned resumption must be backed by clear and sustained government action, not just rhetoric.
“Geopolitical tensions may affect the prices we pay for crude. But we can escape the cost of imported finished products, which currently amount to around 400 million U.S. dollars. We should be able to reduce that or use our refining capacity to mitigate the impact of geopolitical tensions. Additionally, BOST also needs attention because those two—TOR and BOST—are your safety nets,” he said.
According to Mr. Amoah, without government support to reposition both TOR and the Bulk Oil Storage and Transportation Company (BOST), Ghana will continue to depend heavily on foreign petroleum markets, a situation he described as “clearly unsustainable.”
He stressed that strategic investments and technical support are needed to bring both institutions back to full operational efficiency.
“If you don’t revive them or bring them back to some level of utilization, you are simply going to depend on foreign markets for your petroleum supply,” COPEC’s executive secretary warned.
Beyond economic savings, stakeholders argue that reviving TOR could have far-reaching benefits for job creation, skills development, and investor confidence in the country’s energy infrastructure.
Mr. Amoah concluded by urging the government to empower the management and leadership of TOR and BOST to reposition the institutions for long-term sustainability. “Whatever can be done to support them at this point, I think, should be the focus of government,” he said.
