Tema: The International Energy Agency (IEA) has highlighted the escalating impact of the Middle East conflict on the global oil market, describing it as the largest supply disruption in history. The ongoing conflict has prompted key oil producers in the region, including Iraq, Qatar, Kuwait, the United Arab Emirates, and Saudi Arabia, to cut their oil production by at least 10 million barrels per day.
According to Ghana Web, the global oil market has been experiencing significant volatility following recent airstrikes by the US and Israel against Iran. This turmoil has driven Brent crude prices to nearly US$120 a barrel earlier in the week. Amid these challenges, the Tema Oil Refinery (TOR) has asserted its capacity to refine domestic crude oil, countering claims about its inability to process output from Ghana's offshore oil fields.
TOR has conducted technical studies and crude assays confirming the compatibility of Ghana's light sweet crude, particularly from the Jubilee and TEN fields, with its existing refinery configuration. The facility is thus capable of efficiently producing refined petroleum products necessary for the domestic market. TOR states its capability to produce gasoline, diesel, jet fuel, kerosene, and other petroleum derivatives from Ghanaian crude.
Previously, in 2016, the refinery successfully processed crude from the TEN field, demonstrating its operational capability to handle locally produced oil. This comes amid public discussions questioning whether Ghana's refinery is technically equipped to refine crude from the nation's offshore oil fields.
Despite the refinery's capabilities, Ghana currently exports most of its crude production from the Jubilee, TEN, and Sankofa fields, while importing refined petroleum products to satisfy domestic fuel needs. The refinery resumed operations in late 2025 after a prolonged period of inactivity due to financial challenges, accumulated debt, and aging infrastructure. It is now gradually increasing output following maintenance and operational stabilization.
TOR aims to restore full capacity and pursue enhancements to expand processing capabilities, thereby reinforcing its role in Ghana's downstream petroleum sector. Local refining of crude offers strategic and economic advantages, including reducing dependence on imported petroleum products, enhancing national energy security, and conserving foreign exchange used for fuel imports.
Moreover, domestic refining will promote value addition within Ghana's petroleum sector and stimulate wider industrial activities. Tema Oil Refinery remains committed to its pivotal role in the country's energy landscape.