President Mahama directs review of oil payments and maritime trade links

President John Dramani Mahama has directed the Minister of Energy to review the payment methods for Ghana’s indigenous crude oil. The President suggested that the Tema Oil Refinery (TOR) and Sentuo refineries should use the local currency, the Ghana cedi, rather than the US dollar to pay for locally produced offshore oil. This directive follows the commissioning of upgraded facilities at TOR and the receipt of one million barrels of Jubilee Medium Sweet Crude.

Separately, the Ghana Maritime Authority has begun technical assessments to implement President Mahama’s proposal to strengthen maritime connectivity between Tema, Ghana, and Kingston, Jamaica. Following the President’s visit to Jamaica in August 2026, the Authority is examining cargo flows, shipping models, and freight costs to determine the commercial viability of establishing stronger trade links between the two maritime hubs.