The Sentuo Group is making a significant investment of $980 million to enhance its oil refinery in Tema, Ghana, expanding its capacity to two million metric tons per annum.
This is part of a broader plan, which includes a second phase that will add an additional three million metric tons per annum, demonstrating the company’s commitment to adding value in Africa’s petroleum industry.
Sentuo Oil has recently received a full operational license to function as an oil refinery in Ghana. Xu Ningquan, Executive Chairman of the Sentuo Group, shared this news during a visit from representatives of the African Refiners and Distributors Association (ARDA) and CITAC on July 19, 2024.
The visit aimed to discuss strategies for Africa to develop and enhance its capabilities in adding value to its crude resources.
The African Refiners and Distributors Association (ARDA) and CITAC, a specialist consulting group in Africa’s downstream energy industry, extended their congratulations to Sentuo Oil Refinery Ltd. on this achievement. Xu Ningquan emphasized the necessity for Africa to achieve energy self-reliance and reduce dependency on exporting crude oil and importing finished products.
ARDA’s Executive Secretary, Anibor Kragha, expressed gratitude for Xu Ningquan’s commitment to developing local refining capabilities in Africa.
He praised Sentuo Group’s investment in the Sentuo Oil Refinery, highlighting its potential to significantly boost Africa’s energy sector.
Kragha also stressed ARDA’s primary goal of creating an enabling environment for African oil refiners to thrive and attract investment into the industry. This goal is supported by CITAC, which provides extensive data and analytics about the African downstream energy sector.
About ARDA
The African Refiners and Distributors Association (ARDA) is dedicated to advocating for the sustainable development of Africa’s refining and distribution sectors, promoting energy security and economic growth across the continent.
About CITAC
CITAC is a specialist consulting group focused on Africa’s downstream energy industry, providing expert analysis and insights to support the development of the region’s energy sector.
About Sentuo Oil Refinery Ltd.
Sentuo Oil Refinery Ltd. is a leading oil refinery in Ghana, committed to enhancing Africa’s refining capabilities and adding value to the continent’s crude oil resources.
