Ghana has unveiled a bold, long-term strategy aimed at transforming the country into a major petroleum hub in West Africa. This downstream development agenda, which spans from 2024 to 2036, is designed to enhance energy security across the region, reduce petroleum-related costs, and position Ghana as a key player in the continent’s oil and gas industry. The initiative centers on the establishment of an integrated petroleum hub that will feature a 300,000-barrel-per-day refinery, a petrochemical plant capable of processing 90,000 barrels daily, large-scale storage facilities, and advanced marine port infrastructure. This significant project is expected to attract investment, create jobs, and stimulate growth across related sectors.
Dr. Toni Aubynn, Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), emphasized the critical role of local participation in the successful implementation of the plan. He called for Ghanaian entrepreneurs and institutions to invest in the project to ensure national ownership and long-term sustainability. Alongside this, the government is modernizing the Tema Oil Refinery to increase its operational efficiency and capacity. The Bulk Oil Storage and Transportation (BOST) company also has plans to expand its network of storage depots and pipelines to support the broader agenda. Officials stress the importance of building local capacity through skills development and inclusion, with a focus on maximizing Ghanaian involvement in every aspect of the oil and gas value chain to secure lasting economic benefits.
