Ghana Targets 900,000 Barrel Refining Capacity under New Project
The Director of Operations and Technical at the Petroleum Hub Development Corporation (PHDC), Kwabena Owusu-Abrokwa, said Ghana is advancing firm plans to establish a Petroleum and Petrochemical Hub aimed at transforming the country’s energy sector and accelerating economic growth.
Speaking during a presentation on “Adding Value to the Petroleum Industry in Ghana: A Case Study of PHDC” at the Africa Media Extractives Fellowship training in Accra on Wednesday, November 26, Mr. Owusu-Abrokwa said the government remains committed to developing a fully integrated petroleum hub that can serve both domestic needs and the broader West African sub-region.
The PHDC was established under the Petroleum Hub Development Corporation Act, 2020 (Act 1053) to spearhead the development of a world-class hub capable of refining, processing, storing and transporting petroleum and petrochemical products.
Outlining Ghana’s ambitions, Mr. Owusu-Abrokwa said the project will host three modern refineries with a combined processing capacity of 900,000 barrels of crude oil per day, five petrochemical plants, storage facilities totaling 10 million cubic metres and at least two deep-water jetties. He noted that these facilities will place Ghana at the centre of Africa’s growing fuel and petrochemical demand, which continues to rise steadily across the region.
The hub will be developed in three major phases. The first phase includes the construction of one refinery, one petrochemical plant, three million cubic metres of storage and critical port and ancillary facilities. Additional phases will expand refining and petrochemical capacity, storage infrastructure and social amenities such as residential and service facilities.
The entire project is expected to cost an estimated US$60 billion.
Owusu-Abrokwa explained that the hub’s design goes beyond infrastructure it is strategically positioned to attract major investments. Incentives such as tax exemptions, repatriation guarantees and serviced industrial land are being offered to investors. These, he noted, are complemented by Ghana’s political stability, deep-water port access, central location in West Africa, skilled labour force, and natural resource base.
He stressed that the hub will play a critical economic role by creating jobs, stimulating local industries, attracting foreign direct investment, and positioning Ghana as a major energy and petrochemical supply centre. “This project will not only increase Ghana’s GDP but also provide sustainable, reliable, and environmentally responsible energy for both Ghana and the region,” he said.
Funding for the project is being sourced from Parliament-approved allocations to the PHDC, internally generated revenue, grants, and legally permitted loans.
As Ghana works to diversify its economy and strengthen its energy supply chain, the Petroleum Hub is projected to anchor long-term industrial growth and deepen the country’s role in the regional energy market.
