Keypoints:
- Ghana begins first phase of oil hub build
- Project to cut costs and boost fuel security
- Local investors targeted for expansion
GHANA has begun developing West Africa’s first integrated petroleum hub, a strategic project aimed at lowering regional fuel costs, boosting supply security, and attracting significant local and international investment.
Speaking at the Invest in African Energies: Accra Investor Briefing on April 14, Dr Toni Aubynn, CEO of the Petroleum Hub Development Corporation, said the hub will be constructed in three phases from 2024 to 2036. The initial phase includes a 300,000-barrel-per-day (bpd) refinery, a 90,000-bpd petrochemical plant, storage infrastructure, and marine port facilities.
‘Our responsibility is to turn Ghana’s energy vision into reality—three refineries and five petrochemical plants,’ said Aubynn. ‘Our focus is on mobilising local investors to drive this growth.’
The hub is designed to transform Ghana into a regional fuel processing and export centre, reducing reliance on imported refined products and expanding the country’s influence in West Africa’s energy market.
Refinery upgrade and strategic investment
Ghana’s only operating refinery, the Tema Oil Refinery, continues to play a key role in domestic supply. Operational since 1963, it is currently undergoing modernisation to enhance output and efficiency.
Dr Yussif Sulemana, Managing Director of the refinery, noted that short-term plans involve maximising existing assets, while longer-term strategies include attracting partners and capital.
‘We have many interested investors, and we’re looking for both funding and technical expertise,’ Sulemana said.
Storage capacity and fuel logistics to expand
As part of Ghana’s downstream energy strategy, major investment is also flowing into petroleum storage and distribution. Bulk Oil Storage and Transportation (BOST) is expanding capacity, improving inter-depot pipelines, and modernising infrastructure to strengthen fuel logistics.
Nana Amoasi, Technical Advisor at BOST, revealed plans to double the company’s barge fleet and construct a pipeline linking Tema to the Accra Plains Depot. A new storage facility and alternative fuel initiatives are also in development.
‘We’re building for the future — better logistics, more efficient transport, and resilience in fuel supply,’ said Amoasi.
Local content and skills development take centre stage
To ensure that Ghanaians benefit from the country’s energy expansion, the government is placing a strong emphasis on local content.
Kwaku Boateng, Director of Economics and Local Content at Ghana’s Petroleum Commission, said local participation must be embedded in every project phase.
‘Our strategy ensures that Ghanaian businesses remain strong partners to international oil companies,’ Boateng said.
However, workforce capacity remains a challenge. David Pappoe, President of the African Energy Chamber in Ghana, stressed that without investment in skills and knowledge, local companies risk being sidelined.
‘Human capacity is everything. If we want to compete and end energy poverty, we need to collaborate across the continent,’ Pappoe said.
Cape Town summit to drive momentum
The Accra briefing served as a curtain-raiser for the upcoming African Energy Week: Invest in African Energies conference, scheduled for September 29 to October 3 in Cape Town.
The event highlighted Ghana’s expanding energy landscape and signalled the country’s readiness to position itself as a key player in regional oil and gas development.
