Ghana has taken a strategic and bold decision to refine crude oil from the Jubilee Field locally.
This marks a defining moment for the West African nation, which has long exported crude oil while spending over $400 million monthly on imported refined petroleum products.
The country began commercial oil production in 2010, with daily output from the three producing fields hovering around 218,000 barrels in June 2019. However, production has since declined to an average of about 115,000 barrels per day.
Tema Oil Refinery, Ghana’s only state-owned petroleum refinery, was previously burdened with debt and unable to refine crude due to faulty equipment. It has now returned to operation following major rehabilitation works undertaken by current management.
The revamping of the refinery has boosted Ghana’s crude refining capacity.
On Monday, June 8, Sentuo Refinery, a Chinese-owned private refinery, took delivery of 1 million barrels of crude oil from Ghana’s Jubilee Field for processing in a colourful ceremony in Tema.
Speaking at the ceremony, Executive Chairman of Sentuo Refinery, Ningquan Xu, described the development as a historic milestone in Ghana’s industrial transformation agenda.
He said the arrival of Jubilee crude at Sentuo Refinery represents the beginning of a new chapter in which Ghana retains more value from its natural resources, strengthens its energy security, and builds a more resilient and globally competitive industrial economy.
“Today demonstrates that Ghana is moving beyond simply being an exporter of raw resources. Ghana is embracing a future where natural wealth is processed and refined to create jobs, build industries, generate foreign exchange, and strengthen economic sovereignty,” he said.
“For many years, Ghana exported crude oil while spending billions of dollars importing refined petroleum products. We exported value and imported dependency.”
Xu noted that refining Jubilee crude locally will help create jobs, strengthen energy security, and retain more value within the economy.
He also announced that President John Dramani Mahama is expected to perform the sod-cutting ceremony for Phase Two of the Sentuo Refinery Expansion Project on June 24, 2026, a move expected to significantly increase refining capacity and create thousands of jobs.
The company said the milestone positions Ghana closer to becoming a regional petroleum processing and trading hub for West Africa and the Sahel.
“History will remember this moment as the day Ghana refined more of its own resources for its own development,” Xu added.
Also speaking at the ceremony, Ghana’s Minister for Energy and Green Transition, Dr John Abdulai Jinapor, said the development marks a significant shift in Ghana’s petroleum industry, where locally produced crude can now be refined domestically rather than exported for processing abroad.
According to him, the initiative reflects a deliberate policy direction by government to maximize the economic benefits of Ghana’s natural resources through local value addition.
“Today’s achievement goes beyond a commercial transaction. It represents a deliberate national policy decision to deepen local value addition, strengthen energy security, promote industrialisation, and retain a greater share of petroleum wealth within our economy,” he said.
The minister noted that for many years Ghana exported crude oil while relying heavily on imported refined petroleum products, a model he described as unsustainable in the long term.
He recalled that the country’s sole state-owned refinery faced significant operational challenges for nearly eight years, limiting its capacity to process crude oil.
“True economic transformation requires that we process, refine, and add value to our resources locally. By doing so, we create jobs, build technical expertise, strengthen domestic industries, and generate greater economic benefits for our people,” he said.
Mr. Jinapor pointed to the hundreds of workers employed by Sentuo Refinery as evidence of the direct employment potential of local refining.
“If this refinery did not exist, many of these young men and women would still be searching for jobs or competing for limited opportunities elsewhere. This is why investments of this nature are critical to Ghana’s economic future,” he noted.
The Energy Minister commended Sentuo Refinery for its investment and vision, describing the facility as one of the most significant private sector investments in Ghana’s downstream petroleum industry.
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, said the facility represents a major milestone in Ghana’s industrial transformation agenda and aligns with the government’s broader economic reset programme.
“There are moments in a nation’s life that deserve to be marked with gratitude, and today is one of those moments. For the first time in Ghana’s history, crude oil from the Jubilee Field has arrived at a Ghanaian refinery for processing. This is a significant step toward industrialisation and economic self-sufficiency,” she stated.
“Every barrel refined here creates linkages to transportation, agriculture, manufacturing, and infrastructure. It supports jobs, strengthens businesses, and improves livelihoods for Ghanaian families,” she added.
Mrs. Ofosu-Adjare commended Sentuo Refinery for its commitment to investing in Ghana at a time when many investors remained cautious about large-scale industrial projects.
“We thank Sentuo for its confidence in Ghana. Nearly two billion dollars has been invested at a time when many looked away. Your conviction that Africa must stop exporting raw materials and begin creating value from its own resources is not just a business philosophy; it is a patriotic contribution to industrial development,” she said.
The minister reaffirmed government’s commitment to supporting the refinery and fostering the development of a broader industrial ecosystem around the facility.
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