Ghana Breaks Ground on $12B Oil Refinery, Paving Way for West Africa Petroleum Hub
Ghana has officially launched its $12 billion oil refinery project in Jomoro, marking the first phase of a larger $60 billion integrated Petroleum Hub.
The megaproject is designed to complement Senegal’s New Oil Refinery Project, positioning West Africa as a major petroleum hub on the continent.
The initiative includes constructing a 300,000-barrel-per-day refinery, a petrochemical plant, and extensive storage and port facilities.
The Ghanaian government is partnering with the TCP-UIC Consortium, with plans for the hub to meet West Africa’s demand for refined petroleum products by 2036.
The project is expected to generate hundreds of thousands of jobs and boost Ghana’s GDP by up to 70% upon full completion.
Ghana joins a growing number of African nations developing domestic crude oil refineries to reduce dependence on imported refined products and strengthen regional energy security.
