The Managing Director of the Tema Oil Refinery (TOR), Dr. Yussif Sulemana, has revealed that an estimated $25 million is needed for a complete overhaul of the refinery to restore its full operations.
This statement comes amid ongoing challenges in Ghana’s petroleum sector, including rising fuel prices, heavy dependence on imports, and the underutilization of local refining capacity.
Speaking to journalists in Accra, Dr. Sulemana highlighted the urgent need for investment to bring TOR back to peak performance. He emphasized that revamping the refinery would not only enable the production of petroleum products that meet international standards but also reduce Ghana’s reliance on imported refined fuel.
Dr. Sulemana also noted that seven companies have expressed interest in investing in the refinery’s revival, though with varying levels of commitment.
For years, TOR has been a crucial part of Ghana’s energy sector, but it has struggled with operational challenges in recent years due to financial difficulties, outdated infrastructure, and technical inefficiencies.
He stressed that securing the necessary funding would enable the refinery to operate at full capacity, ensuring efficient fuel production at competitive costs.
