Since the discovery of oil in commercial quantities in Ghana, one concern has been reaping most of the benefits from this resource. Recent interest has been focused on the Petroleum Hub.
A discussion with Shadrach Owusu, a member of the communications team of the Ministry of Energy, revealed that some reasonable amount of work had been done in the past, but the current Energy Minister, Dr Matthew Opoku Prempeh has since his assumption of office given more priority to this strategic anchor initiative of the Government.
“A board has been inaugurated for the Petroleum Hub Development Corporation by the honourable minister and the vision is to establish Ghana as a petrochemical hub to supply refined petroleum products”, Shadrach said.
He also added that “ The hub will occupy a land space of about 20,000 acres and would have four refineries each with a capacity of 150,000bpd, two oil jetties, storage tanks for crude and two petrochemical plants. It is expected to transform the economy through the export tax of about $1.56 billion, increase Ghana’s GDP by about 70 per cent and create jobs in excess of 780,000”.
A fully operational hub such as this will not only serve as a cash cow but also give the people of Ghana the opportunity to participate fully in our petroleum industry.
“It is the strategic vision of Dr Prempeh to boost the local content and participation in the energy sector and I believe will be one of the avenues we can do that”, Shadrach added.