Sunday, 27 September

Tema Oil refinery receives historic 950,000 barrels of Sankofa crude from GNPC

Business
Tema Oil Refinery receives 950,000 barrels of Sankofa crude

Tema Oil Refinery (TOR), in partnership with the Ghana National Petroleum Corporation (GNPC), has received 950,000 barrels of Light Sweet Crude Oil from Ghana’s Sankofa-Gye Nyame Field, marking a major milestone in efforts to strengthen domestic refining capacity and improve Ghana’s energy security.

The crude, supplied through GNPC and transported via Sonangol’s Cazenga, will be processed at TOR and converted into petroleum products for the Ghanaian market.

According to TOR, the shipment is the first time a Ghanaian refinery has received a parcel of crude oil directly from the Sankofa Field for refining.

The refinery said the development demonstrates the value of closer collaboration between Ghana’s upstream, midstream and downstream petroleum institutions and supports President John Dramani Mahama’s vision of linking Ghana’s upstream resources to domestic refining.

The initiative is also expected to help retain more value from Ghana’s petroleum resources within the local economy while supporting the continued operations of TOR.

The Managing Director of TOR said the partnership with GNPC demonstrates what can be achieved when strategic state agencies work together to strengthen Ghana’s petroleum value chain.

“This represents another important milestone in the successful restart and continued operation of Tema Oil Refinery and demonstrates what can be accomplished when strategic state agencies work together,” he said.

He described the receipt of the Sankofa crude as an important opportunity for TOR to strengthen its operations and contribute to Ghana’s broader objective of building a resilient and sustainable petroleum industry.

“This is the first time a Ghanaian refinery is receiving a parcel of crude oil from the Sankofa Field for refining. We see this as an important opportunity to strengthen our operations while contributing to the national objective of ensuring that the value from Ghana’s petroleum resources is added and retained in Ghana for the benefit of the Ghanaian people,” the TOR MD said.

He said the development also underscores the importance of stronger cooperation between upstream and downstream petroleum operators.

“The partnership with GNPC demonstrates the potential for stronger cooperation between the upstream and downstream to improve crude oil supply, support refinery operations and create greater value from Ghana’s natural resources,” he added.

The development highlights the potential of Ghana’s indigenous crude resources to support local refining, deepen industry collaboration and reduce reliance on imported petroleum products.

TOR said it is currently engaging GNPC on opportunities to deepen collaboration in other areas for the mutual benefit of the two institutions and the Ghanaian public.

The TOR Managing Director, Edmond Kombat expressed appreciation to President John Dramani Mahama for his leadership and to the Minister for Energy, Dr John Abdulai Jinapor, for his support.

Source: classfmonline.com