TOR, Sentuo can meet 50% of Ghana's fuel demand at full capacity — CBOD CEO

The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Patrick Kwaku Ofori, says Ghana could produce up to half of its domestic fuel requirements locally if the Tema Oil Refinery (TOR) and Sentuo Oil Refinery operate at their full production capacities.

Speaking on the Citi Breakfast Show on Monday, August 3, Mr Ofori said increased local refining would significantly reduce the country's reliance on imported refined petroleum products while enhancing national energy security.

According to him, the combined production capacity of the two refineries has the potential to meet about 50 per cent of Ghana's domestic fuel consumption if they are fully operational.

“If the two are able to operationalise to their full capacity, we are looking at 50% of our domestic consumption being produced locally,” he said.

Mr Ofori, however, cautioned against depending solely on local refineries for the country's fuel needs, stressing the importance of maintaining multiple supply sources to safeguard against disruptions.

He explained that relying on a diversified fuel supply chain would help prevent shortages and reduce the need for emergency fuel imports, which are often more expensive and could ultimately drive up prices for consumers.

The CBOD Chief Executive also called for policies that encourage fair competition within the downstream petroleum sector, saying such measures would support investment, protect jobs and promote the sustainable growth of the industry.

He emphasised that creating a balanced and collaborative operating environment would be crucial to maximising the benefits of increased local refining while ensuring long-term stability in Ghana's petroleum sector.