Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

A look at Kwame Nkrumah’s Tema Oil Refinery

  • SOURCE: | Editor
  • nkrumah Oil

    Years ago, Osagyefo Dr. Kwame Nkrumah’s vision for production of oil in commercial quantities reflected in an agreement signed in 1961 at Accra between the Government of Ghana and ENI for the construction of a refinery to spearhead Ghana’s economic growth, industrial, investment and development programmes.

    Established in 1963, the Tema Oil Refinery (TOR) stands out as the only refinery company of Ghana. Existing as an ancient project of the First President of Ghana, the refinery is solely dependent on crude oil as its raw material for production. TOR, as it is popularly known to many, is authorized by law to operate as a refiner of crude oil and seller of petroleum products in Ghana.

    The government of Ghana under the able administration of Osagyefo Dr. Kwame Nkrumah, built the refinery with the sole aim of enhancing the economic development of the country and for job creation. According to history, the refinery was originally named the Ghanaian Italian Petroleum (GHAIP) Company, and was given to Ente Nazionale Idrocarburi (ENI) to operate after they acquired the largest shares in the company. It was later incorporated as a Private Limited Liability Company under the Companies Ordinance in 1960.  Later in 1977, the Government of Ghana bought the refinery and changed its name to Tema Oil Refinery in 1990.

    Today, the refinery stands out with it key values which includes safety, quality assurance of petroleum products, environmental sustainability and accountability. The refinery is also noted for its quality specifications in Aviation Turbine Kerosene which fuels all airlines that come to Ghana. The refinery has also replicated this stringent process on other product lines including petrol and gas oil (diesel).

    As part of its operations, TOR procures crude oil, refines, and forwards or sells it to Bulk Distribution Companies (BDC’s) for onward distribution to Oil Marketing Companies (OMCs). The refinery is controlled by a nine-member Board of Directors who oversee policy matters of the company. Eight of them are non-executive members and are appointed by the sole shareholder, the Government of Ghana. The Board then appoints the Managing Director who is the only executive member.

    The refinery, in this year 2017, will be 53 years. Its achievements till date cannot be underestimated. The refinery’s capacity to produce and store LPG has improved from 7,560 to 10,560 metric tonnes. Its total storage for both crude oil and finished petroleum products has also increased from 340,000 metric tonnes to 1,000,000 metric tonnes.

    Today, the refinery also provides storage services to the Bulk Distribution Companies for a fee subject to availability of storage space. As Ghana celebrates its 60th Independence Anniversary, Nkrumah’s refinery still stands on its key outlook to expand and improve its infrastructure to ensure reliable distribution of petroleum products on the Ghanaian market and to the ECOWAS Sub region.

    The Tema oil refinery is currently headed by Mr. Isaac Osei.

    www.reportingoilandgas – Jacqueline Parditey

     

     

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Sep 2018 >>
    MTWTFSS
    27 28 29 30 31 1 2
    3 4 5 6 7 8 9
    10 11 12 13 14 15 16
    17 18 19 20 21 22 23
    24 25 26 27 28 29 30
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar