Also known as: TOR
Tema Oil Refinery — state-owned refinery that resumed operations in June 2026 after receiving Ghanaian crude, posting its first profit in a decade.
Verbatim sentences from the source article.
Joy Online
… He expressed confidence that the combined output of the Sentuo Refinery and the Tema Oil Refinery would transform Ghana’s downstream petroleum sector. …
Sentuo Oil Refinery expansion will reduce fuel imports when completed – John JinaporJoy Online
… The President expressed confidence that with the Sentuo refinery expansion and the eventual full operationalisation of the Tema Oil Refinery (TOR), Ghana would be able to meet domestic fuel demand and generate surplus products for export to neighbouring countries. …
Explorco to start Voltaian Basin oil drilling in 2026 as Sentuo refinery expands to 100,000 barrels per dayJoy Online
The Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has highlighted the resumption of refining activities at the Tema Oil Refinery (TOR) as a major boost to Ghana’s energy security and domestic fuel production capacity. …
TOR refining operations boost Ghana’s energy security – John JinaporBusiness & Financial Times
… Add Ghana Water Company (−GH¢4.88bn), COCOBOD (−GH¢4.06bn), Tema Oil Refinery (−GH¢1.54bn) and the Northern Electricity Distribution Company (−GH¢0.65bn), and you have explained essentially the entire sector loss with five entities. …
Most state enterprises made money in 2024: The cedi made sure the state still lost GH¢9.7bnBusiness & Financial Times
… Jinapor added that government is also working to revive and expand refining activities at Tema Oil Refinery, with the broader objective of positioning the country as a net exporter of refined petroleum products. …
Sentuo Oil Refinery receives 1 million barrels of Jubilee crude for domestic processingJoy Online
… Jinapor also revealed that the Tema Oil Refinery has taken delivery of one million barrels of crude oil for processing, indicating renewed efforts to revive domestic refining activities. …
Energy Minister backs expansion of Sentuo RefineryJoy Online
The Tema Oil Refinery (TOR) has resumed operations and is currently refining one million barrels of crude oil, marking a significant milestone in efforts to restore Ghana’s premier refinery to full production. …
TOR refining one million barrels of crude oil following operational restart – Energy MinisterBusiness & Financial Times
returns to profit with GH¢1.24bn pre-tax surplus in 2025 earns SIGA commendation for governance and financial recovery The Tema Oil Refinery (TOR) has cleared a six-year backlog of outstanding audited financial statements and returned to profitability for the first time in a deca …
TOR clears six-year audit backlogJoy Online
The Tema Oil Refinery (TOR) has recorded a profit before tax of GHS 1.24 billion in 2025, marking its first profit in a decade and showing a major financial and operational recovery. …
TOR posts GHS 1.24bn profit in 2025 as SIGA hails ‘historic’ financial turnaroundJoy Online
President John Dramani Mahama has announced that the Tema Oil Refinery (TOR) will begin processing Ghanaian crude oil in June 2026 as part of efforts to increase local value addition and reduce the country’s dependence on imported refined petroleum products. …
TOR to refine Ghanaian crude oil from June 2026—MahamaGhana's Energy Minister said the expansion of Sentuo Oil Refinery will increase capacity from 40,000 to 100,000 barrels per day and reduce reliance on imported finished petroleum products. He said the combined output of Sentuo and Tema Oil Refinery operating at full capacity would eliminate importation of finished products and strengthen the country's petroleum industry.
26 June 2026 · Joy Online →
Ghana's Energy Minister said the expansion of Sentuo Oil Refinery will increase capacity from 40,000 to 100,000 barrels per day and reduce reliance on imported finished petroleum products. He said the combined output of Sentuo and Tema Oil Refinery operating at full capacity would eliminate importation of finished products and strengthen the country's petroleum industry.
26 June 2026 · Joy Online →
President Mahama announced that Explorco will start onshore drilling in the Voltaian Basin before the end of 2026 to assess commercial viability of petroleum reserves in the area. The Sentuo Oil Refinery expansion is expected to increase processing capacity from 40,000 barrels per day to 100,000 barrels per day.
25 June 2026 · Joy Online →
Bugbelle Basic School has struggled for years with 80 pupils in one classroom and no desks or water, driving some children to abandon schooling for illegal mining or migrate south; Ghana Petroleum Mooring Systems broke ground on a new school block on June 18.
23 June 2026 · Joy Online →
Energy Minister Dr John Jinapor highlighted the resumption of refining activities at the Tema Oil Refinery (TOR) following receipt of one million barrels, stating it boosts Ghana's energy security and reduces dependence on imported fuel. He noted that simultaneous refining at TOR and Sentuo Oil Refinery reflects government commitment to local processing of petroleum resources.
9 June 2026 · Joy Online →
The 2024 State Ownership Report shows 35 of 54 state-owned enterprises turned a profit, but the sector posted a net loss of GH¢9.68 billion after tax, worse than the GH¢7.14 billion loss in 2023, driven by losses at a handful of giant utilities and currency revaluation effects from the weakening cedi.
9 June 2026 · Business & Financial Times →
Sentuo Oil Refinery has received 1 million barrels of crude oil from the Jubilee Field for domestic processing, marking the first time crude from the Jubilee Field has been supplied to the privately owned refinery in Ghana. The delivery is intended to deepen local value addition, strengthen energy security, and expand downstream industrial activity.
8 June 2026 · Business & Financial Times →
Ghana's Energy Minister John Abdulai Jinapor has endorsed the expansion of Sentuo Oil Refinery and described the delivery of Jubilee crude oil to the facility as a landmark achievement that will strengthen energy security and advance local value addition. According to the minister, this marks a significant shift in Ghana's petroleum industry, allowing locally produced crude to be refined domestically rather than exported for processing abroad.
8 June 2026 · Joy Online →
The Tema Oil Refinery has resumed refining operations after receiving one million barrels of crude oil on 27 May 2026, restarting operations on 3 June 2026. The Energy Minister says the resumption is a milestone in reducing Ghana's dependence on imported refined petroleum products and strengthening energy security.
8 June 2026 · Joy Online →
Tema Oil Refinery has completed audited financial statements for 2019–2025 and posted a Profit Before Tax of GH¢1.24 billion in 2025, its first year of profitability in a decade. The State Interests and Governance Authority commended the refinery for resolving the audit backlog and achieving financial recovery through improved governance and operational reforms.
2 June 2026 · Business & Financial Times →
The Tema Oil Refinery recorded a profit before tax of GHS 1.24 billion in 2025, its first profit in a decade, driven largely by a GHS 1.3 billion foreign exchange gain and improved crude oil processing following maintenance works. The State Interests and Governance Authority attributed the turnaround to improved revenue generation and financial management, though cautioned that challenges including liquidity pressures and accumulated deficits remain.
1 June 2026 · Joy Online →
President Mahama announced that the Tema Oil Refinery will begin processing Ghanaian crude oil in June 2026, with a shipment from Ghana's offshore fields to be delivered for processing as part of efforts to increase local value addition and reduce dependence on imported refined petroleum products.
1 June 2026 · Joy Online →
Tema Oil Refinery Managing Director Edmond Kombat was honoured for exceptional leadership and strategic vision at the 10th Ghana CEOs Summit. The recognition follows TOR's recent receipt of one million barrels of Bonga crude oil and efforts to revitalise refinery operations.
29 May 2026 · Joy Online →
Persistent losses by state-owned enterprises (SOEs) pose a risk to Ghana's fiscal balance and debt sustainability following the IMF bailout, according to a corporate governance consultant. The article contextualizes Ghana's SOE sector from independence through economic crises of the 1980s–90s, which reduced government capacity to finance operations and worsened SOE performance.
19 May 2026 · Business & Financial Times →
The National Petroleum Authority has launched a six-month pilot of the 24-Hour Economy programme in the petroleum downstream sector across 268 fuel retail outlets, eight fuel depots and two refineries in four regions. The initiative aims to reduce fuel supply bottlenecks, shorten transit times, and create jobs by extending operational hours in a sector that underpins productive activities including agro-processing, manufacturing, logistics, transportation and export trade.
14 May 2026 · Joy Online →
The Ghana Stock Exchange is experiencing its most active period of primary equity issuance in nearly a decade, with three IPOs—First Atlantic Bank, ZEN Petroleum, and Kasapreko—set to add around GH¢10.88 billion to the exchange's total market capitalisation. The three listings together account for approximately 4 percent of the market cap.
12 May 2026 · Business & Financial Times →
Benjamin Nsiah of the Centre for Environmental Management and Sustainable Energy calls for Ghana's Petroleum Act to be reviewed to guarantee consistent allocation of locally produced crude oil to the Tema Oil Refinery, arguing that domestic feedstock is critical to reviving the refinery's operations. He expresses concerns that TOR's financial position makes it unlikely the refinery can sustain plans to import crude from the West African region given rising global energy and shipping costs.
11 May 2026 · Joy Online →
Tema Oil Refinery is turning to West African crude oil to restore stable operations and support long-term recovery, with discussions ongoing on how Ghana's crude allocation could guarantee more consistent feedstock supply. The move is part of wider repositioning efforts following years of financial difficulties, operational challenges, and external market pressures including global crude supply disruptions and rising shipping costs.
8 May 2026 · Joy Online →
Ghana's geographic advantage, infrastructure, political stability, and emerging petroleum assets position it to create an integrated petroleum and petrochemical hub serving domestic energy needs and serving as an export node for West Africa. The article references Nigeria's Dangote Refinery as a model, which processes 650,000 barrels of crude oil per day and reached full refining capacity in February 2026.
5 May 2026 · Business & Financial Times →
President Mahama announced that the government is considering absorbing the comprehensive overhaul of the Western Rail Line into its 'Big Push' programme to revitalise trade in the Western Corridor and improve transfer of bauxite, manganese, and cocoa to ports.
2 May 2026 · Joy Online →
President John Dramani Mahama told May Day workers that the government has made significant progress reviving state-owned enterprises through policy interventions and financial support, citing the Tema Oil Refinery's return to operation, recapitalisation of the Agricultural Development Bank and National Investment Bank, and recovery efforts at Tema Shipyard as examples of this economic strategy.
1 May 2026 · Joy Online →
President Mahama called on the Trades Union Congress and Organised Labour to actively monitor State-Owned Enterprises and speak up when management mismanages them, warning that workers suffer most when such institutions collapse. He highlighted government efforts to revive struggling SOEs, including resuming operations at the Tema Oil Refinery and recapitalising the Agricultural Development Bank and National Investment Bank.
1 May 2026 · Joy Online →
Daniel Tettey Ayi, Vice-President of Operations at indigenous energy company Genser Energy, is retiring after nearly 15 years with the firm. His career spans the Tema Oil Refinery, Oman Refineries & Petrochemicals Company, and Genser, where he oversaw the commissioning and operation of five power plants managing more than 200 megawatts of installed capacity.
29 April 2026 · Joy Online →
At least one indigenous lender has formally applied for a non-interest banking licence in Ghana, with four additional banks preparing applications following the Bank of Ghana's release of guidelines in January 2026. The regulator has signalled readiness to assess applications, while the Securities and Exchange Commission works on rules for sukuk, Islamic financial instruments offering alternative funding options.
27 April 2026 · Joy Online →