The Sentuo Group is investing $980 million in a two million metric ton per annum capacity at its oil refinery in Tema.
The company also plans for a second phase to increase the capacity by an additional three million metric tons per annum to demonstrate its commitment to creating value in the petroleum industry in Africa.
This comes as Sentuo Oil has received full operational license to function as an oil refinery in Ghana.
Executive Chairman of the Sentuo Group, Xu Ningquan made this known when representatives of the African Refiners and Distributors Association and CITAC paid a courtesy call to the company in Tema on Friday July 19, 2024 to discuss ways for Africa to develop and define its capabilities to add value to its crude resources.
The African Refiners and Distributors Association (ARDA) and CITAC, a specialist consulting group in Africa’s downstream energy industry, extended their heartfelt congratulations to Sentuo Oil Refinery Ltd. for the feat.
Mr. Xu Ningquan emphasized the necessity for Africa to achieve energy self-reliance and take ownership of its economy by reducing the export of crude oil and importing finished products.
In response, Mr. Anibor Kragha, Executive Secretary of ARDA, thanked Mr. Xu Ningquan for his unwavering commitment to developing local refining capabilities in Africa.
He lauded the bold steps taken by the Sentuo Group in investing in the Sentuo Oil Refinery, a move poised to significantly boost Africa’s energy sector.
Mr. Kragha further emphasized that the main objective of ARDA is to create an enabling environment for African oil refiners to thrive and attract investment into the industry.
This goal is supported by CITAC, which provides a wealth of data and analytics about the African downstream energy industry.
About ARDA
The African Refiners and Distributors Association (ARDA) is dedicated to advocating for the sustainable development of Africa’s refining and distribution sectors, promoting energy security and economic growth across the continent.
About CITAC
CITAC is a specialist consulting group focused on Africa’s downstream energy industry, providing expert analysis and insights to support the development of the region’s energy sector.
About Sentuo Oil Refinery Ltd.
Sentuo Oil Refinery Ltd. is a leading oil refinery in Ghana, committed to enhancing Africa’s refining capabilities and adding value to the continent’s crude oil resources.
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