Benjamin Nsiah, the Executive Director of the Centre for Environmental and Sustainable Energy (CEMSE), has urged the Ghanaian government to prioritize local oil refining as a strategic move to strengthen the country’s energy security and reduce dependence on foreign petroleum products.
Speaking in a radio interview on Original TV, Mr. Nsiah highlighted the pressing need for Ghana to utilize its existing refineries more effectively. “Ghana produces crude oil, and we must take deliberate steps to refine more of it locally instead of relying heavily on imports,” he explained.
Mr. Nsiah pointed out that Ghana’s oil refineries, such as the Tema Oil Refinery, have the potential to refine significant amounts of crude oil. The Tema Refinery, in particular, has the capacity to process 28,000 barrels of crude oil daily, a figure that could be increased to 30,000 barrels or more with the right investment and operational support.
In addition to the Tema Refinery, Mr. Nsiah also cited other local refineries, such as Senteo Refinery, Platon Gas Oil Terminal, and Akwaba Refinery, all of which could contribute to reducing the country’s reliance on foreign refined products. The private refineries, in particular, have refining capacities ranging from 5,000 to 10,000 barrels per day.
The CEMSE Executive Director suggested that a legislative push could help further boost local refining by requiring companies importing crude oil without long-term contracts to supply part of their product to local refineries. This would ensure that local facilities, such as the Tema and Akwaba refineries, have access to the crude oil they need for refining.
“The price of petroleum products will still be influenced by international market prices,” Nsiah noted, “but by refining locally, we will be able to cut costs related to transportation and logistics, helping to stabilize fuel prices even during periods of international instability.”
Source: metrotvonline.com
