Ghana is set to begin refining crude from its own oil fields locally, becoming the latest African producer seeking to capture more value from its petroleum resources rather than exporting raw crude and importing refined fuels.
Speaking at a Ghana Diaspora Town Hall Meeting in London, President John Dramani Mahama announced that Ghana would deliver crude from its offshore oil fields to a domestic refinery for processing in June.
"We are about to make history again. We did it during my first term, but after we left office it did not continue. In June, we will deliver a parcel of Ghanaian crude from our own oil fields to a refinery in Ghana for processing," Mahama said.
The planned delivery is expected to mark the first time in years that crude extracted from Ghana's offshore fields will be refined domestically, a development that could help the country retain a larger share of the value generated by its petroleum sector.
Ghana Joins Africa's Refining Push
