TOR expansion could deliver cheaper fuel, boost regional exports – Deputy MD

Alhaji Mustapha Batalima Abubakar, Deputy Managing Director of Tema Oil Refinery (TOR) Ltd, stated at the Ghana Petroleum Downstream Policy Forum in Accra that expanding the refinery's capacity would lower domestic fuel prices and increase petroleum exports across the Sahel region. He advocated for a dedicated financing mechanism to support the refinery's expansion, enabling it to meet growing national and sub-regional fuel demand.

The forum, organized by the Africa Centre for Energy Policy (ACEP), gathered policymakers, regulators, downstream operators, and civil society representatives to discuss fiscal and regulatory reforms. Abubakar emphasized that higher refining throughput would ensure a steady supply of competitively priced fuel for consumers. TOR has already refined approximately five million barrels of crude oil, incorporating recent shipments such as one million barrels of Ghana's Jubilee crude in July and one million barrels of Bonga crude in May.

The refinery also produces Ghana's premix fuel for fishing communities, aviation turbine kerosene, and supports numerous jobs within the value chain. Restoring full operational capacity and expanding the refinery would generate new jobs for young Ghanaian engineers and technical graduates. Abubakar urged the government, sector regulators, and civil society organizations to continue supporting TOR's revival.

The Accra dialogue examined downstream pricing rules, infrastructure challenges, and fiscal frameworks aimed at reducing Ghana's dependence on imported refined petroleum products while positioning the country as a petroleum supply hub for landlocked West African nations.