President John Dramani Mahama has revealed that the Tema Oil Refinery (TOR) will begin processing Ghana’s own crude oil in June 2026, marking a major milestone in the country’s energy and industrial transformation agenda.
Speaking at the Ghana Diaspora Town Hall Meeting in London, President Mahama said the move would boost local value addition, reduce dependence on imported refined petroleum products, and create jobs.
“We are about to make history again. We did it during my first term, but after we left office it did not continue. In June, we will deliver a parcel of Ghanaian crude from our own oil fields to a refinery in Ghana for processing,” he announced
For decades, Ghana has exported crude oil while importing finished petroleum products at high cost. Mahama argued that this model drains opportunities from the local economy.
“Normally we produce the oil and export it. Then we import finished petroleum products or import crude again to refine. That cycle must change,” he stressed.
He explained that refining crude locally would help Ghana retain more value, strengthen manufacturing, and drive industrialisation.
“When we export raw materials and somebody else processes them, we create jobs in their economy instead of our own. The finished products are then exported back to us. That model cannot deliver sustainable prosperity,” he added.
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