TOR to Slash Fuel Import Bill by Half with Full Operations by October

Tema, Ghana - 23 June, 2025 - Ghana is set to significantly reduce its dependence on imported refined petroleum products by October 2025, following plans to revive the Tema Oil Refinery (TOR) to full operational capacity. According to Edmund Kombat, Acting Managing Director of TOR, the refinery's revival could slash the country's monthly fuel import bill of $400 million by more than half.

“We spend $400 million every month importing refined petroleum products. When TOR is running, we will need less than 60% of that money to import refined petroleum products,” Kombat told the Parliamentary Committe on Energy.

Kombat attributed the refinery's shutdown in 2021 to a lack of crude oil, rather than operational inefficiencies. “The refinery is a profitable enterprise; it is capable of refining. There have been many turnaround maintenance works that have taken place at the refinery. The reason it was shut down in 2021 was actually because of a lack of crude,” he emphasised.

TOR has set up a Turnaround Maintenance Committee to oversee the recovery process, with the committee holding weekly meetings to track progress.

“From the timeline that we are seeing, between September and October, we should get the CDU [Crude Distillation Unit] back on stream,” he added.

The committee is working towards restoring the Crude Distillation Unit (CDU) by September or October. 
According to Edmund Kombat, TOR's Acting Managing Director, the refinery has been without audited financial statements since 2019, but is now collaborating with external auditors to rectify the situation, with the audited accounts anticipated to be finalized by next month.

“Another key thing is that for the past six years, the refinery has not had audited accounts since 2019. We’ve brought in external auditors and they are busily working. We are hoping that by next month, we’ll have all six audited accounts to present to SIGA and also give copies to members of the committee,” he stated.

Ghana's monthly fuel import bill stands at around $400 million, but full TOR operations would reduce this by over 40%, to less than $240 million. With a new furnace boosting its capacity to 60,000 barrels per day, TOR could meet 45-60% of Ghana's 100,000-barrel daily demand.

The revival of TOR is expected to have a significant impact on Ghana's economy, reducing the country's reliance on imported refined petroleum products and saving millions of dollars in foreign exchange.

Source: Lead News Online