President Nana Addo Dankwa Akufo-Addo has disclosed plans for the comprehensive rejuvenation of the Tema Oil Refinery (TOR) during the inauguration ceremony of the Santuo Oil Refinery, a venture owned by the Chinese firm Santuo Group, in Tema.
Highlighting the strategic significance of a fully functional Tema Oil Refinery alongside the newly inaugurated Santuo Oil Refinery, President Akufo-Addo emphasized Ghana’s potential to locally refine a substantial portion of its oil, thereby diminishing reliance on imported refined products.
During the event, Energy Minister Dr. Mathew Opoku Premier (NAPO) extended an invitation to foreign investors, urging them to actively participate in the energy sector to boost productivity. He lauded the Santuo Group for their significant investment in the Santuo Oil Refinery.
Initially processing 40,000 barrels of oil daily, the Santuo Oil Refinery has ambitious plans to gradually increase its capacity to 100,000 barrels per day in its first phase.
Xu Ning Quan, the Executive Chairman of Santuo Group, expressed gratitude for the collaborative efforts involving government institutions and traditional authorities that facilitated the establishment of the Santuo Oil Refinery. Despite its Chinese ownership, Mr. Xu Quan affirmed the Santuo Group’s deep commitment to Ghana’s progress, particularly in the energy sector, considering Ghana as their second home.
