Akufo-Addo Unveils Strategy for Tema Oil Refinery Revitalization at Chinese-Owned Santuo Refinery Inauguration

President Akufo-Addo has revealed ambitious plans for the comprehensive rejuvenation of the Tema Oil Refinery, announcing this initiative during the inauguration ceremony of the Santuo Oil Refinery, a venture owned by the Chinese company Santuo Group, situated in Tema.

During the ceremony, President Akufo-Addo emphasized the potential synergy between a fully operational Tema Oil Refinery and the newly inaugurated Santuo Oil Refinery. He highlighted Ghana’s ability to domestically refine a substantial portion of its oil, thereby reducing reliance on imported refined products.

Dr. Mathew Opoku Premier (NAPO), the Minister of Energy, extended an invitation to foreign investors to actively participate in the energy sector, aiming to boost its overall productivity. He applauded the Santuo Group for their significant investment in the Santuo Oil Refinery.

Initially processing 40,000 barrels of oil daily, the Santuo Oil Refinery aims to gradually increase its capacity to 100,000 barrels per day in its initial phase.

Xu Ning Quan, the Executive Chairman of Santuo Group, expressed gratitude for the collaborative efforts involving government institutions and traditional authorities that facilitated the establishment of the Santuo Oil Refinery. Despite being Chinese-owned, Mr. Xu Quan affirmed their profound commitment to Ghana’s progress, particularly in the energy sector, highlighting Ghana as their second home.