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Investment in Domestic Refining Critical to Ghana’s Industrial Growth - Edmond Kombat   The Managing Director of Tema Oil Refinery (TOR), Mr. Edmond Kombat, has stressed the need for more attention to domestic refining to promote Ghana’s industrialization plans, reduce dependence on imported fuel, and retain more economic value within the country.   Speaking at the Energy Day of the 15th Ghana Economic Forum in Accra on Wednesday, November 11, 2026, Mr. Kombat emphasized the need for local refining in ensuring fuel availability, supporting industries, providing fuel for power generation, and creating jobs. He said its benefits are not just limited to the production of petroleum products, but also opportunities for petrochemical development and other related businesses.   Drawing attention to disruptions in international petroleum markets, particularly around the Strait of Hormuz, he noted that Ghana’s reliance on imported finished petroleum products exposes the economy to rising freight, insurance and refining costs. Increasing local refining capacity, he noted would help reduce these pressures and ensure a more reliable supply of fuel to businesses and industries.   Touching on TOR’s recovery after years of inactivity, Mr. Kombat detailed the progress made since crude processing resumed in December 2025, as well as ongoing measures to increase operational efficiency, rehabilitate critical infrastructure and expand the refinery’s processing capacity.   Addressing concerns about sustaining the progress made, particularly through changes in government, he disclosed that TOR is working towards listing on the Ghana Stock Exchange by 2028. He explained that efforts to restructure the company’s debt, improve its balance sheet and achieve sustained profitability are intended to pave the way for private investment, promote good corporate governance and secure its long-term operations.   Mr. Kombat, who also contributed to a panel discussion on Ghana’s energy competitiveness, reiterated the need for continued investment and a supportive policy environment to improve domestic refining and position Ghana to meet local fuel demand while exploring opportunities in regional markets.   Organized by the Business & Financial Times (B&FT), the Energy Day of the 15th Ghana Economic Forum was held under the theme The Future Economy Runs on Power: Building Ghana’s Energy Advantage for Sustainable Industrialization and Economic Growth.