ARDA, CITAC congratulate Sentuo Oil Refinery . . . On getting full operational licence in Ghana
The African Refiners and Distributors Association (ARDA) and CITAC, a specialist consulting group in Africa's downstream energy industry, have congratulated Sentuo Oil Refinery Ltd on receiving the full operational license to function as an oil refinery in Ghana.
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The licence was issued by the National Petroleum Authority (NPA) on July 1, 2024 to December 31,2024. The commendation was made during a courtesy visit by representatives from ARDA and CITAC to the Executive Chairman of the Sentuo Group, Xu Ningquan, at the Sentuo Oil Refinery in Tema on Friday, July 19.
Sentuo Oil Refinery Ltd is one of the leading oil refineries in Ghana, committed to enhancing Africa’s refining capabilities and adding value to the continent’s crude oil resources.
Mr Ningquan emphasised “the necessity for Africa to achieve energy self-reliance and take ownership of its economy by reducing the export of crude oil and importing finished products”.
For him, Africa must develop its refining capabilities to add value to its crude resources.
Investment
He indicated that “the Sentuo Group is investing $980 million in a two million metric tonne per annum capacity oil refinery in Tema, with plans for a second phase to increase the capacity by an additional three million metric tonnes per annum”, a demonstration of the refinery’s commitment to creating value in Africa.
For his part, the Executive Secretary of ARDA, Anibor Kragha, commended Mr Ningquan for his vision and commitment to developing local refining capabilities in Africa.
He also lauded the bold steps taken by the Sentuo Group in investing in the Sentuo Oil Refinery, a move that was poised to significantly boost Africa’s energy sector.
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For Mr Kragha, “the main objective of ARDA is to create an enabling environment for African oil refiners to thrive and attract investment into the industry”.
This goal, he explained, was supported by CITAC, which provides a wealth of data and analytics about the African downstream energy industry.
He said the African Refiners and Distributors Association (ARDA) was dedicated to advocating for the sustainable development of Africa's refining and distribution sectors, promoting energy security and economic growth across the continent.
Background
PRESIDENT Nana Addo Dankwa Akufo-Addo recently commissioned a $2 billion 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.