President Akufo-Addo has emphasized the ongoing efforts for the complete revitalization of the Tema Oil Refinery.
The president found it prudent to register his government’s commitment during the inauguration ceremony of the Santuo Oil Refinery in Tema, a refinery owned by the Chinese firm Santuo Group.
President Akufo-Addo highlighted the potential of having both the Tema Oil Refinery and the Santuo Oil Refinery fully operational, believing that this would enable Ghana to locally refine a significant portion of its oil, reducing dependence on imported refined products.
In August 2010, the Tema Oil Refinery (TOR) plant was temporarily shut down for lack of crude oil. In 2018, TOR was shut down for the same reason and has since not been fully operational.
At inauguration ceremony of the Santuo Oil Refinery. the Energy Minister Dr. Mathew Opoku Premier (NAPO) extended an invitation to foreign investors to participate in the energy sector, aiming to enhance productivity. He commended the Santuo Group for its substantial investment in the Santuo Oil Refinery.
Initially processing 40,000 barrels of oil daily, the Santuo Oil Refinery aims to gradually increase its capacity to 100,000 barrels per day in its first phase.
Xu Ning Quan, the Executive Chairman of Santuo Group, expressed gratitude for the collaborative efforts involving government institutions and traditional authorities that facilitated the establishment of the Santuo Oil Refinery.
Despite being Chinese-owned, Mr. Xu Quan affirmed their deep commitment to Ghana’s progress, particularly in the energy domain, highlighting Ghana as their second home.