President John Mahama has said his government has intentions of building a second refinery on the premises of the Tema Oil Refinery (TOR), currently the oil-producing West African country’s only refinery.
Mr Mahama, who toured the facility with visiting Prime Minister of Trinidad and Tobago, Dr Keith Christopher Rowley on Monday May 9, said the second refinery will help Ghana refine about 100,000 barrels of oil daily.
Mr Mahama’s announcement coincides with a similar view expressed by the Acting Chief Executive Officer for TOR, Mr Kwame Awuah Darko, who has said there is the need for two oil refineries to be established in the country.
According to him, the availability of more refineries in the country will bring about healthy competition in the petroleum sector.
Speaking with the media on Monday May 9, Kwame Awuah Darko said TOR has over the years demonstrated that Ghana can become a petroleum hub in the world, a situation that is advancing the vision of the Ghana Government to make the country a petroleum hub.
“Having TOR and Port shown the way where in the last six months we have exported to Ivory Coast, Nigeria, Burkina Faso and Mali, demonstrate that the petroleum infrastructure in this country is capable of being integrated into the West African system,” he said, adding: “So that should allow somebody who is an investor looking at where to put a refinery to be able to service West Africa, which is the fastest growing petroleum market in the world, [to] easily say the institutions that have done this are in Ghana, the environment seems to be attractive and the infrastructure is in place, so let’s put money in Ghana and let’s do a second or third refinery.”
“So, I don’t believe that TOR should be the only refinery in Ghana, competition is very important. It is only a matter of time that a second or third refinery is established in this country,” he reaffirmed.
Meanwhile President Mahama has dispelled rumours that TOR will be privatised or sold. “Government has no intention of selling the Tema Oil Refinery and we will rather assist TOR to re-establish itself as a vibrant state enterprise in petroleum production.”