President Akufo-Addo of Ghana has announced the government’s commitment to the full revitalisation of the Tema Oil Refinery. This pledge was made during the inauguration ceremony of the new Santuo Oil Refinery, a Chinese-owned venture, located in Tema.
Highlighting the significant potential of having both the Tema and Santuo Oil Refineries operational, President Akufo-Addo emphasized Ghana’s increased capacity to refine its oil locally. This move is expected to reduce the nation’s reliance on imported refined oil products, bolstering self-sufficiency and economic stability.
At the event, Ghana’s Energy Minister, Dr. Mathew Opoku Premier (NAPO), extended an invitation to foreign investors to engage in the country’s energy sector. This initiative aims to enhance productivity and foster development within the sector. Dr. Premier lauded the Santuo Group for their substantial investment in the newly inaugurated refinery.
The Santuo Oil Refinery, with an initial processing capacity of 40,000 barrels per day, plans to expand its operations to process up to 100,000 barrels per day in its first phase. This expansion represents a significant increase in Ghana’s refining capabilities and a step forward in the country’s energy sector.
Xu Ning Quan, the Executive Chairman of the Santuo Group, expressed his gratitude for the support and collaboration from Ghanaian government institutions and traditional authorities, which were instrumental in establishing the refinery. Despite being a Chinese-owned enterprise, Mr. Xu Quan emphasised their profound commitment to contributing to Ghana’s progress, especially in the energy sector. He referred to Ghana as their “second home,” underscoring the deep ties between the Santuo Group and the Ghanaian community.
President Akufo-Addo’s announcement of reviving the Tema Oil Refinery, coupled with the inauguration of the Santuo Oil Refinery, marks a pivotal moment for Ghana’s energy industry. It signals a strategic move towards increasing local production capacity and reducing external dependencies, thereby enhancing the country’s energy security and economic growth.
The inauguration of the Santuo Oil Refinery and the planned revitalisation of the Tema Oil Refinery are key steps in Ghana’s journey towards becoming a major player in the global energy market, leveraging both local expertise and international partnerships.
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