The Sentuo Group is investing $980 million in a two million metric ton per annum capacity at its oil refinery in Tema.<\/strong><\/p>\nThe company also plans for a second phase to increase the capacity by an additional three million metric tons per annum to demonstrate its commitment to creating value in the petroleum industry in Africa.<\/p>\n
This comes as Sentuo Oil has received full operational license to function as an oil refinery in Ghana.<\/p>\n
Executive Chairman of the Sentuo Group, Xu Ningquan made this known when representatives of the African Refiners and Distributors Association and CITAC paid a courtesy call to the company in Tema on Friday July 19, 2024 to discuss ways for Africa to develop and define its capabilities to add value to its crude resources.<\/p>\n
The African Refiners and Distributors Association (ARDA) and CITAC, a specialist consulting group in Africa\u2019s downstream energy industry, extended their heartfelt congratulations to Sentuo Oil Refinery Ltd. for the feat.<\/p>\n
Mr. Xu Ningquan emphasized the necessity for Africa to achieve energy self-reliance and take ownership of its economy by reducing the export of crude oil and importing finished products.<\/p>\n
In response, Mr. Anibor Kragha, Executive Secretary of ARDA, thanked Mr. Xu Ningquan for his unwavering commitment to developing local refining capabilities in Africa.<\/p>\n
He lauded the bold steps taken by the Sentuo Group in investing in the Sentuo Oil Refinery, a move poised to significantly boost Africa\u2019s energy sector.<\/p>\n
Mr. Kragha further emphasized that the main objective of ARDA is to create an enabling environment for African oil refiners to thrive and attract investment into the industry.<\/p>\n
This goal is supported by CITAC, which provides a wealth of data and analytics about the African downstream energy industry.<\/p>\n
About ARDA<\/strong><\/p>\nThe African Refiners and Distributors Association (ARDA) is dedicated to advocating for the sustainable development of Africa\u2019s refining and distribution sectors, promoting energy security and economic growth across the continent.<\/p>\n
About CITAC<\/strong><\/p>\nCITAC is a specialist consulting group focused on Africa\u2019s downstream energy industry, providing expert analysis and insights to support the development of the region\u2019s energy sector.<\/p>\n
About Sentuo Oil Refinery Ltd.<\/strong><\/p>\nSentuo Oil Refinery Ltd. is a leading oil refinery in Ghana, committed to enhancing Africa\u2019s refining capabilities and adding value to the continent\u2019s crude oil resources.<\/p>\n
citinewsroom.com <\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Sentuo Group is investing $980 million in a two million metric ton per annum capacity at its oil refinery in Tema. The company also plans for a second phase to increase the capacity by an additional three million metric tons per annum to demonstrate its commitment to creating value in the petroleum industry in […]<\/p>\n","protected":false},"author":1,"featured_media":204058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-204057","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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