Ghana has announced plans to restart operations at Tema Oil Refinery by end-2025 to cut a $10-billion import bill.

Ghana to revive Tema Oil Refinery by year-end

ACCRA, November 13, 2025 – Ghana plans to restart operations at the Tema Oil Refinery by the end of 2025 to reduce its annual USD 10.2-billion oil import bill, GhanaWeb reported on Thursday.

The refinery aims to meet 60% of Ghana’s crude oil consumption, potentially saving USD 400 million per month in import costs, the report said. The revival follows a restructuring process that is 98% complete.

Deputy presidential spokesperson Shamima Muslim said the restart aligns with President John Mahama’s Resetting Ghana Agenda, designed to boost economic stability through reforms and partnerships.

Per GhanaWeb, government upgrades include TOR’s distillation units, pipelines and storage systems to restore refining capacity and reduce reliance on imported fuels.

The initiative is part of broader reforms improving Ghana’s macroeconomic outlook, with inflation falling to 8% and the cedi strengthening amid rising gold exports via the new Ghana Gold Board.

Tema Oil Refinery is Ghana’s state-owned refining facility with a capacity of 45,000 bpd. It has been largely inactive due to technical and financial challenges but is considered vital for national energy security and reducing import dependence.

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