The Chief Executive Officer of the National Petroleum Authority, Edudzi Kudzo Tameklo, said Ghana would need about $200 million to fully upgrade the Tema Oil Refinery and improve its production capacity.
During an interview on TV3 New Day, he noted that although the government has taken steps to restart the refinery, additional funding is necessary to significantly improve its performance.
He explained that while operations have resumed, the refinery still requires stronger government support and further investment to reach its full potential.
Mr. Tameklo said the refinery should not focus only on meeting Ghana’s fuel needs but should also aim to supply petroleum products to other countries in the region.
He also acknowledged Ghana’s first President, Dr. Kwame Nkrumah, for establishing the refinery as part of efforts to secure the country’s energy independence, adding that the nation has struggled to maintain the facility over the years.
He expressed confidence in the refinery’s future, stating that increasing production to about 45,000 barrels per day would strengthen Ghana’s position and reflect positively on the country.
source: www.gbcghanaonline.com
African Energy Council