The Republic of Ghana is planning to establish four new crude oil processing refineries, energynewsafrica.com can report.
The four new oil refineries, which will be a Government of Ghana and the private sector partnership, are expected to be completed by 2030.
The refineries would have a total capacity of 600,000bpd with each having a capacity of 150,000 bpd.
The refineries are part of the petroleum hub project which the President Akufo-Addo’s administration has initiated.
The West African nation established its first crude oil processing refinery, Tema Oil Refinery (TOR) Limited, in 1963, to enhance the country’s economic, investment and development programmes.
Since then,Ghana has not been able to establish any additional oil refinery despite producing oil in commercial quantities from its jubilee oil fields.
TOR, which has a total capacity of 45,000bpd, has been left to struggle by successive governments.
Our sources from the Ministry of Energy indicate that a 20,000-acre land had been acquired for the petroleum hub project.
Energynewsafrica.com understands that the Energy Ministry has received a number of proposals from the private sector players expressing interest in the project.
The petroleum hub project will have, among other facilities, storage tanks for crude and finished products, two oil jetties, two petrochemical plants with processing capacity of 45,000bpsd each, as well as waste and water treatment plants.
It is estimated that 780,000 jobs would be created when the project commences and is completed.