Accra: Ghana is developing West Africa’s first integrated petroleum hub, with the aim of enhancing regional fuel security and reducing petroleum costs. The hub is being developed in three phases between 2024 and 2036. The first phase, which broke ground in 2024, includes a 300,000-barrel-per-day (bpd) refinery, a 90,000-bpd petrochemical plant, storage tanks, and marine port infrastructure.
According to Ghana News Agency, Dr. Toni Aubynn, CEO of the Petroleum Hub Development Corporation, shared details on the investment opportunities tied to the hub during the Invest in African Energies: Accra Investor Briefing. He emphasized the responsibility to bring state ideas into reality by building three refineries and five petrochemical plants. Dr. Aubynn noted that Ghana would be the first to establish such a facility and would rely on investors, particularly local investors, to develop these industries.
Dr. Yussif Sulemana, Managing Director of Tema Oil Refinery, explained that the refinery’s success was driven by efficient work processes. Short-term, the strategy is to maximize existing assets, while medium- to long-term plans focus on partnership and strategic investment. With many investors interested, the refinery is seeking capital injection and expertise. On the storage side, Ghana is investing in infrastructure to boost capacity and enhance its inter-depot pipeline networks. Bulk Oil Storage and Transportation (BOST) is working to strengthen industry infrastructure.
Nana Amoasi VII, Technical Advisor of BOST, mentioned plans to double the fleet of barges and introduce a pipeline from Tema to the Accra Plains Depot. There is also a focus on developing another storage facility and ensuring the use of alternative fuels. In line with the downstream investment surge, Ghana is prioritizing local content and human capital development to unlock greater value for the local population.
Mr. Kwaku Boateng, Director of Economics and Local Content at Ghana’s Petroleum Commission, emphasized the need to maximize the oil and gas industry and achieve hydrocarbon industry stability through local content. He said the Petroleum Commission has a strategy to ensure Ghanaian participation across every petroleum activity, with Ghanaian companies as strong partners to international oil companies.
Mr. David Pappoe, President of the African Energy Chamber in Ghana, highlighted the roles of both government and private companies. He stressed the importance of building capacity, technology, and knowledge to compete and drive collaboration across the African continent. Through collaboration, energy poverty could be addressed.
The Invest in African Energies: Accra Investor Briefing served as a prelude to the African Energy Week: Invest in African Energies conference, scheduled from September 29, 2025, to October 3, 2025, in Cape Town. The event highlighted commercial oil and gas opportunities in Ghana, setting the stage for further discussions and deal-making in Cape Town.
