TOR Revival - a Strategic Boost to Ghana’s Downstream: CBOD CEO

Accra | January 20, 2026 - The revival of the Tema Oil Refinery (TOR) has been described by the Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Dr. Patrick Kwaku Ofori, as a major positive development for Ghana’s downstream petroleum sector, with important implications for supply security, foreign exchange management, and overall market stability.

Speaking during an appearance on Business Live on Joy News on Tuesday evening, Dr. Ofori framed TOR’s return to operations as a timely intervention in a downstream market contending with intense price competition, structural reform, and renewed regulatory discipline.

According to the CBOD CEO’s assessment, the refinery’s resumption is expected to ease pressure on foreign exchange demand by increasing access to locally refined petroleum products. For a sector that has historically been exposed to currency volatility and global supply disruptions, domestic sourcing from TOR represents a critical stabilising mechanism.

Dr. Ofori also pointed to ongoing industry engagements aimed at aligning TOR’s product slate with prevailing market requirements. These efforts are designed to ensure that the refinery’s output complements existing supply arrangements rather than distorts pricing dynamics or creates market concentration risks as refining capacity expands.

He further noted that TOR’s revival is being closely coordinated with pipeline infrastructure upgrades currently underway. Once completed, these improvements are expected to enhance fuel evacuation efficiency from Tema into key consumption centres, lowering distribution costs and supporting more competitive pump prices.

Placed within a broader strategic frame, the CBOD CEO contextualised TOR’s return as part of what industry observers have characterised as a $10 billion reset of Ghana’s energy architecture. After years of underutilisation, the refinery’s phased re-entry into production forms part of a deliberate effort to rebuild domestic refining capacity and reintegrate TOR into both the national and regional downstream landscape.

Beyond immediate pricing and supply considerations, Dr. Ofori situated TOR’s revival within Ghana’s wider energy sovereignty agenda. By reclaiming refining capacity last fully operational decades ago, the country strengthens its domestic supply chain, conserves foreign exchange, and enhances its resilience within the regional petroleum value network.

From a market perspective, TOR’s re-entry sends a strong signal of renewed confidence in Ghana’s downstream ecosystem. Long regarded as a strategic national asset, the refinery’s revival reinforces competition, expands supply optionality, and supports ongoing efforts to stabilise fuel prices amid a rapidly evolving market.

For industry stakeholders, the CBOD CEO’s intervention makes clear that TOR’s revival represents more than the restart of a facility. It marks a renewed commitment to domestic refining, disciplined market coordination, and the gradual re-anchoring of Ghana’s fuel supply chain within its own borders.