Tema Oil Refinery Needs $25 Million to Resume Full Operations – MD
Accra, Ghana – March 2025 – The Managing Director of the Tema Oil Refinery (TOR), Dr. Yussif Sulemana, has disclosed that the refinery requires $25 million for a complete revamp to restore full operations.
Addressing journalists in Accra on Monday, March 17, Dr. Sulemana highlighted the urgent need for investment, citing Ghana’s heavy reliance on fuel imports, rising fuel prices, and the underutilization of local refining capacity as pressing concerns.
Investment Interest in TOR
According to Dr. Sulemana, seven companies have expressed interest in investing in TOR’s revival, offering different levels of commitment.
“A credit partner will come and partner with us, and some are interested in doing everything. Some want to take up the entire facility of the refinery just to revamp it.
If we get like $25 million as we speak now, we can be able to run the facility,” he stated.
Challenges and Potential of TOR
TOR has long been a key player in Ghana’s energy sector, but financial difficulties, aging infrastructure, and technical inefficiencies have hampered its operations in recent years.
At full capacity, the refinery could meet a significant portion of Ghana’s local fuel demand, reducing dependence on imports. However, years of underinvestment have led to underperformance.
Dr. Sulemana reiterated that securing funding would enable TOR to produce fuel that meets international standards while ensuring efficient production at competitive costs.
The revival of TOR is expected to boost energy security, stabilize fuel prices, and strengthen Ghana’s petroleum sector.
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