The Acting Chief Executive Officer of the Tema Oil Refinery (TOR), Kwame Awuah Darko, has said there is the need for two oil refineries to be established in the county in addition to the TOR.
According to him, the availability of more refineries in the country will bring about healthy competition in the petroleum sector.
Speaking with the media on Monday May 9, Kwame Awua Darko said TOR had over the years demonstrated that Ghana could become a petroleum hub in the world, a situation that is advancing the vision of the Ghana Government to make the country a petroleum hub.
“Having TOR and Port show the way where in the last six months we have exported to Ivory Coast, Nigeria, Burkina Faso and Mali, demonstrates that the petroleum infrastructure in this country is capable of being integrated into the West African system,” he said, adding: “So that should allow somebody who is an investor looking at where to put a refinery to be able to service West Africa, which is the fastest growing petroleum market in the world, [to] easily say the institutions that have done this are in Ghana, the environment seems to be attractive and the infrastructure is in place, so let’s put money in Ghana and let’s do a second or third refinery.
“So, I don’t believe that TOR should be the only refinery in Ghana, competition is very important. It is only a matter of time that a second or third refinery is established in this country,” he reaffirmed.
President John Dramani Mahama also on Monday hinted at considerations by his government to set up another oil refinery to support the Tema Oil Refinery.
He made the comment when he toured the facility with the Prime Minister of Trinidad and Tobago, Dr Keith Christopher Rowley, who is in the country for an official visit.