Reviving TOR could cut fuel imports by half – Deputy MD

The Deputy Managing Director of the Tema Oil Refinery (TOR), Alhaji Mustapha Abubakar, has underscored the strategic importance of restoring the refinery to full operation, saying it could significantly reduce Ghana’s fuel import bill and enhance national energy security.

Speaking on CTV’s Oman Ghana Nkusuo morning show hosted by Yaa Titi, Alhaji Abubakar described TOR as one of Ghana’s most critical national assets, stressing that it deserves the same level of priority as institutions such as COCOBOD and GoldBod.

He revealed that Ghana currently spends about US$400 million each month importing petroleum products, a situation he said is unsustainable in the long term. According to him, a fully operational TOR, working in synergy with the Akwaaba Refinery and other facilities, could refine enough crude oil locally to reduce fuel imports by at least 50 percent.

Alhaji Abubakar noted that since his appointment, alongside Mr. Edmond Kombat early last year, government has consistently reaffirmed its commitment to reviving the refinery. He recalled remarks made by President John Dramani Mahama during the 2024 campaign, in which the President described TOR as a strategic national asset that must be restored to full capacity.

Currently, TOR produces about 28,000 barrels of petroleum products per day, well below Ghana’s estimated national demand of 112,000 barrels per day. However, he said production is expected to rise substantially once a new furnace is commissioned by the President.

“When the new furnace comes on stream, production capacity will increase to about 60,000 barrels per day. This will represent a major boost to domestic refining,” he said.

He also highlighted the historical significance of the refinery, noting that TOR was established during the era of Dr. Kwame Nkrumah as part of efforts to secure Ghana’s energy needs through local refining.

While acknowledging the operational and financial challenges confronting the refinery, Alhaji Abubakar assured that management is implementing measures to optimise production, cut costs and improve efficiency. These steps, he said, are aimed at reducing the impact of tolling arrangements on TOR’s operations.

He emphasised that reviving the Tema Oil Refinery is crucial not only for cutting fuel imports, but also for supporting Ghana’s broader economic growth, industrialisation and long-term energy security.