Gov’t to Reassess TOR Operations, Prioritize Local Participation

The government has announced plans to reassess the operations of the Tema Oil Refinery (TOR) as part of efforts to revamp the facility, with a strong emphasis on Ghanaian participation.

This initiative aligns with the country’s local content policy, which seeks to empower indigenous businesses in key economic sectors and enhance national capacity in the petroleum industry.

Minister for Energy and Green Transitions, John Jinapor, has been engaging industry stakeholders, emphasizing the need for local entrepreneurs to take a leading role in any restructuring or investment efforts at the refinery.

“Our refinery is also a key integral part of what we intend to do. Our vision is that if we can get you Ghanaian entrepreneurs to lead the process, it will help us a lot,” the minister stated.

He further stressed that the government would prioritize local investors in the refinery’s revamp, adding, “We will take a second look at Tema Oil Refinery. But in line with our local content policy, we will want to give the first option to you captains of industry in Ghana here. Where you do not have capacity, I am confident that you can source for capacity to augment what you do with it.”

The reassessment of TOR comes at a time when Ghana is seeking to boost domestic refining capacity and reduce reliance on petroleum imports. The refinery has faced operational and financial challenges in recent years, prompting calls for strategic investments and reforms to restore its efficiency.

Industry players have welcomed the government’s renewed focus on TOR but stress the need for a clear roadmap that ensures sustainability, efficiency, and competitiveness in the sector.

Source: norvanreports.com