The Chief Executive Officer of the National Petroleum Authority (NPA), Edudzi Kudzo Tameklo, has disclosed that an estimated US$200 million is required to comprehensively rehabilitate the Tema Oil Refinery (TOR) and significantly enhance its production capacity.

Speaking on TV3’s New Day on Monday, December 29, Mr. Tameklo said that although government efforts have led to the resumption of refining operations at TOR, further investment is necessary to maximise the refinery’s potential.

“Though the refinery has resumed operation, I strongly believe we need to encourage the government to invest more,” he stated.

According to the NPA CEO, the long-term objective should be to position TOR as a regional refinery rather than one that serves only the domestic market.

“I do not think we need to have a refinery that only serves the Ghanaian market, but one that serves beyond the borders of Ghana as well,” he said.

Mr. Tameklo also acknowledged the vision of Ghana’s first President, Dr. Kwame Nkrumah, for establishing the Tema Oil Refinery as a strategic asset to guarantee the country’s energy independence.

However, he noted that successive challenges have prevented the refinery from operating at its full potential over the years.

He expressed optimism about TOR’s future, stating that if production capacity is increased to about 45,000 barrels per day, it would significantly enhance Ghana’s standing within the regional petroleum market.

“If TOR is able to ramp up production to up to 45,000 barrels a day, it will project the country well,” he added.