Quick overview
Ghana’s first shipment of Angolan crude oil was a significant step in reviving domestic fuel production.
The Greek-operated Suezmax tanker Nicolaos made the delivery when it docked at the Sentuo Refinery. On April 25, Andriaki Shipping’s 165,000-deadweight-tonne Nicolaos loaded about 500,000 barrels of Palanca crude oil. Between May 3 and 5, the ship was supposed to unload its cargo at Tema.
Following its initial commissioning last year, the Sentuo facility, which produces 120,000 barrels per day, had stopped importing.
The halt was due to financial and political constraints that limited its ability to manage additional shipments, as reported by Kpler. Resuming crude imports into Sentuo marks the refinery’s start, a significant milestone that could lessen Ghana’s reliance on imported refined fuel, Kpler said. ”
Ghana had imported 500,000 barrels of Nigerian crude from the Brass River in February, which Kpler said was used to generate electricity because the West African Gas Pipeline was temporarily shut down.
Russian cargoes and one shipment from Ivory Coast’s Baleine offshore field were among the previous deliveries to the Sentuo Refinery. Reports from October 2024 showed that the Tema Oil Refinery, which has a capacity of 20,000 barrels per day, was operating at less than that of Sentuo.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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