Sentuo emerges key buyer as Tullow begins local crude deliveries

Sentuo Oil Refinery has emerged as a major buyer of Ghanaian crude oil after receiving the first cargo sold locally by Tullow Oil from its Jubilee and Tweneboa, Enyenra and Ntomme (TEN) fields.

The development marks a significant step in efforts to refine more of Ghana’s crude oil domestically and strengthen linkages between the country’s upstream and downstream petroleum sectors.

Tullow disclosed that the first cargo under the arrangement was delivered earlier this year to Sentuo Oil Refinery, providing a new market for crude produced from Ghana’s offshore fields.

Speaking during a virtual meeting with investors on the company’s half-year results, Tullow Chief Financial Officer Richard Miller highlighted Sentuo’s growing influence in Ghana’s crude market.

“Sentuo Oil has become one of the prolific buyers of crude not only from Tullow Oil alone but also from other partners on Ghana’s oil fields,” Mr Miller said.

He described the commencement of local crude sales as a major achievement for Ghana’s oil industry and said the arrangement was completed on commercial terms.

“This is a fantastic achievement looking at what has happened in Ghana’s oil sector over the years,” he said.

Mr Miller explained that the company had put measures in place to support the initiative, including a favourable refinancing package designed to facilitate transactions and sustain local crude purchases.

“The sale was conducted on a purely commercial basis, and we have put mechanisms in place to ensure a favourable refinancing package that supports the initiative,” he stated.

He also commended government efforts aimed at improving refinery operations and encouraging greater local participation in the petroleum value chain.

The local sale of crude is expected to reduce dependence on imported feedstock while supporting the expansion of refining activities within Ghana.

Meanwhile, Tullow has revised its crude lifting outlook upward for 2026. The company now expects to lift 14 cargoes during the year, including 11 from the Jubilee field and three from the TEN fields.

The forecast represents an increase of two Jubilee cargoes compared with the guidance issued in November 2025.

Tullow reported that six cargoes were lifted during the first half of 2026, with a further eight cargoes expected before the end of the year.

The campay further expressed optimism that ongoing operational improvements are expected to enhance performance and contribute to a stronger turnaround by year-end, while local crude sales provide an additional commercial outlet for Ghana’s petroleum resources.