Tema Oil Refinery back by October, Ghana to save $400m every month
By Praisebell Rosemond Larbi
The Tema Oil Refinery (TOR) is set to resume full operations by October 2025, marking a significant step toward reducing Ghana’s dependency on imported refined petroleum products.
This was disclosed by the Acting Managing Director of TOR, Edmund Kombat, during an appearance before Parliament’s Energy Committee.
He explained that strategic measures are being undertaken to revamp the refinery and ensure sustainable operations after years of inactivity.
TOR, once Ghana’s primary oil refining facility, suspended operations in 2021 due to the unavailability of crude oil. The shutdown increased the country’s reliance on imported petroleum products, placing a heavy burden on the national budget.
According to Mr. Kombat, the refinery is being positioned to process up to 60 percent of the country’s crude oil needs. This, he said, could result in an estimated monthly savings of USD400 million on refined fuel imports.
“The full resumption of TOR will significantly reduce our import bill and ensure more energy security for the country,” Mr. Kombat noted.
However, he also revealed that TOR has not had its financial accounts audited since 2019, a lapse that raised concerns among members of the Energy Committee.
In response, Mr. Kombat assured the committee that the necessary steps have been taken to complete the audit by the end of next month, after which the financial reports will be submitted to Parliament.
