Ghana · Energy
Key Facts
The order. President John Mahama has told Energy Minister John Jinapor to rethink how Ghana’s refineries pay for Ghanaian crude — in cedis rather than US dollars.
The anomaly. The Tema Oil Refinery and the private Sentuo refinery process crude and sell fuel in cedis, yet the Petroleum Revenue Management Act obliges them to pay for the feedstock in foreign currency.
The trigger. The instruction came as TOR received one million barrels of Ghana’s own Jubilee Medium Sweet crude aboard the MT Apache on 1 August, alongside newly refurbished processing units.
