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
… His career, stretching from the Tema Oil Refinery to Oman Refineries and Petrochemicals Company and finally to Genser, reads like a masterclass in Ghanaian engineering excellence. …
From Tema to Chirano, via Oman: A quiet architect of Ghana’s power generation retiresJoy Online
… offer the government an alternative route to fund infrastructure without adding to debt burdens. “Through instruments such as Sukuk (Islamic bonds), Ghana can fund significant infrastructure projects like road construction, railway expansion, the revival of the Tema Oil Refinery …
Ghana moves toward interest-free banking as local lenders seek licencesGhana'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 →