Private oil refinery firm Sentuo Oil Refinery is expected to receive a significant consignment of crude oil from Ghana’s offshore fields today for local processing.
JOYBUSINESS understands that the refinery will take delivery of approximately one million barrels of Jubilee crude, marking a major step in efforts to increase domestic refining capacity and reduce reliance on imported petroleum products.
Industry analysts view the move as part of the government’s broader strategy to encourage the local processing of Ghana’s crude oil, particularly amid ongoing geopolitical tensions in the Middle East that continue to create uncertainty in global energy markets.
The development is also expected to have implications for fuel pricing in Ghana.
Market watchers note that Bulk Oil Distribution Companies typically factor in freight and insurance costs when pricing imported petroleum products. Refining crude locally could help reduce some of these costs, creating room for more competitive pricing for consumers.
Speaking to JOYBUSINESS, the Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, described the initiative as timely given current developments in the Middle East.
He commended the government and the Ministry of Energy for facilitating the arrangement, describing it as one of the most significant interventions undertaken in recent times.
Mr Amoah also disclosed that the Tema Oil Refinery (TOR) is expected to receive another parcel of crude oil in July for processing.
Push for Local Processing
The latest development comes weeks after President John Mahama announced in London that TOR would begin processing Ghanaian crude oil in June 2026 as part of efforts to increase local value addition and reduce the country’s dependence on imported refined petroleum products.
According to the President, a shipment of crude oil from Ghana’s offshore fields would be delivered to TOR for processing, reviving an initiative first introduced during his previous administration.
The government has consistently argued that refining more of Ghana’s crude locally will help retain value within the economy, strengthen energy security and support industrial growth.
About Sentuo Refinery
According to information published by the company, Sentuo Oil Refinery has processed more than five million tonnes of crude oil since commencing operations in Ghana.
The refinery was developed under the framework of China’s Belt and Road Initiative and is located within the Tema Industrial Zone.
Phase One of the project, completed in 2022, established an initial processing capacity of two million tonnes per year, while Phase Two, completed in 2024, expanded capacity to five million tonnes annually.
The company says the project aligns with Ghana’s One District, One Factory industrialisation agenda and incorporates modern refining technology, energy-efficiency measures, environmental protection standards, and scalable production systems.
The arrival of the latest crude shipment is expected to further boost local refining activities and strengthen Ghana’s efforts to build a more resilient and self-sufficient petroleum sector.
