Ghana Plans New Refineries, Petrochemical Plants to Cut Fuel Imports

Key Takeaways

Ghana’s planned expansion of refining and petrochemical capacity is a strategic shift. The country imports most of its refined fuel despite producing crude oil. New local processing infrastructure will allow Ghana to retain more value across the energy supply chain. The government’s push to include gas processing and petrochemical conversion into products like fertilizers, methanol, and alumina signals an intent to support domestic industries and exports. A gas processing plant with a 150 million scfd capacity is expected to supply industrial demand. By anchoring the initiative in the Western Region and promising infrastructure like roads and power, Ghana seeks to attract investors while stimulating local economic development. Oversight by PHDC aims to streamline permitting and regulation for foreign and domestic firms. With oil production plateauing, this downstream strategy is designed to diversify revenue, improve trade balances, and generate jobs across sectors tied to energy-intensive industries.