Minister for Energy and Green Transition, John Abdulai Jinapor, has described the delivery of Jubilee crude oil to Sentuo Oil Refinery for local processing as a landmark achievement that will deepen value addition, strengthen energy security, and accelerate Ghana's industrialisation agenda.

Speaking at Sentuo Oil Refinery's first-ever Jubilee Crude Oil Berthing Ceremony in Tema, Mr. Jinapor said the development marks a significant shift in Ghana's petroleum industry, where crude oil produced locally can now be refined within the country rather than exported for processing abroad.

According to him, the initiative reflects a deliberate policy direction by government to maximise the economic benefits of Ghana's natural resources through local value addition.

"Today's achievement goes beyond a commercial transaction. It represents a deliberate national policy decision to deepen local value addition, strengthen energy security, promote industrialisation, and retain a greater share of the benefits derived from Ghana's petroleum resources within our economy," he stated.

The minister noted that for many years Ghana exported crude oil while relying heavily on imported refined petroleum products, a model he said was unsustainable in the long term.

He recalled that the country's sole state owned refinery faced significant operational challenges for nearly eight years, limiting Ghana's capacity to process its own crude oil.

"True economic transformation requires that we process, refine and add value to our resources locally. By doing so, we create jobs, build technical expertise, strengthen domestic industries, and generate greater economic benefits for our people," he said.

Mr. Jinapor pointed to the hundreds of workers employed by Sentuo Oil Refinery as evidence of the direct employment opportunities that local refining can create.

"If this refinery did not exist, many of these young men and women would still be searching for jobs or competing for limited opportunities elsewhere. This is why investments of this nature are critical to Ghana's economic future," he noted.

The Energy Minister commended the management of Sentuo Oil Refinery for its investment and vision, describing the facility as one of the most significant private sector investments in Ghana's downstream petroleum industry.

He disclosed that the refinery's first phase, completed in 2024, has a processing capacity of 40,000 barrels of crude oil per day, while construction of the second phase is expected to increase capacity by an additional 60,000 barrels daily.

Upon completion, the refinery will be capable of processing 100,000 barrels of crude oil per day.

"The Sentuo Oil Refinery has emerged as one of the most significant private sector investments in Ghana's downstream industry. Once the second phase is completed, the refinery's total capacity will reach 100,000 barrels per day, significantly enhancing Ghana's refining capability," he said.

Mr. Jinapor also revealed that the Tema Oil Refinery has taken delivery of one million barrels of crude oil for processing, indicating renewed efforts to revive domestic refining activities.

He expressed optimism that increased local refining capacity would significantly reduce Ghana's dependence on imported petroleum products and potentially position the country as a net exporter of refined products in the future.

"If Sentuo and Tema Oil Refinery operate at their full capacities, Ghana's reliance on imported refined petroleum products will reduce considerably. Ultimately, we have the potential to become an exporter of refined products rather than a major importer," he stated.

The minister linked the importance of local refining to recent geopolitical tensions in the Middle East, noting that global conflicts continue to expose countries that depend heavily on imported fuel to supply disruptions and price volatility.

He said strengthening domestic refining capacity would enhance Ghana's resilience against external shocks while ensuring greater stability in the country's petroleum supply chain.

Mr. Jinapor further credited President John Dramani Mahama's administration for prioritising local participation and value addition within the petroleum sector.

According to him, government remains committed to ensuring that Ghana's natural resources contribute directly to industrial development, job creation, and national prosperity.

"We are on course to reset the economy and build a stronger and more resilient energy sector. Our objective is to ensure that Ghana derives maximum value from its natural resources while creating opportunities for businesses and citizens," he said.

The Jubilee crude oil delivery to Sentuo Oil Refinery is expected to mark the beginning of a new phase in Ghana's petroleum industry, with industry stakeholders anticipating increased local refining activity, improved energy security, and stronger linkages between the energy sector and the wider economy.