President commissions $2bn Sentuo Oil Refinery in Tema

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President Nana Addo Dankwa Akufo-Addo has commissioned a $2billion oil refinery, Sentuo Oil Refinery Limited, at the Tema industrial hub.

 

Situated on a 100-acre land, the project, which is under the One District, One Factory (1D1F) policy, can refine five million barrels of oil per annum.

 

It will produce high-quality finished gasoline (petrol), aviation kerosene, diesel, asphalt and lubricating base oil, and also create about 1,000 job opportunities.

 

Other products are solvent oil, polypropylene, liquefied petroleum gas, ammonium sulfide, sulfuric acid, sulphur and other by-products.

 

The first phase of the project, which commenced in 2022, will pump out 40,000 barriers of refined products per day and ramp up to 100,000 barrels daily upon completion of the second phase next year.

 

The commissioning of the biggest oil refinery in the country attracted people from far and near, including the President of Guyana, Mohamed Irfaan Ali; the Speaker of Parliament, Alban Sumana Kingsford Bagbin, ministers of state, Members of Parliament (MPs), chiefs, captains of industry and chief executives of regulatory bodies.

 

Significance

President Akufo-Addo said the project was a symbol of the determination of the country to shape its destiny, strengthen the economy, reduce its dependence on foreign oil and inspire investment in its economy.

 

He said it was also a step towards securing the country’s future and a demonstration of cooperation between the private and public sectors that had enabled investment to flourish.

 

“No longer will we be solely reliant on external sources for fuel. Instead, we will harness our natural resources to fuel our progress.

Source – Graphic online

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