Tullow starts selling Jubilee, TEN crude to Ghanaian refineries

Tullow Oil has begun selling crude from its Jubilee, Tweneboa, Enyenra, and Ntomme (TEN) fields to refineries in Ghana, in a move aimed at supporting domestic refining.

The company says the first cargo was sold earlier this year to Sentuo Oil Refinery.

Tullow Chief Financial Officer Richard Miller disclosed this during a virtual meeting with investors on the company’s half-year results.

He was responding to a question on efforts to encourage more Jubilee crude to be refined locally.

Mr Miller described the development as a significant achievement for Ghana’s oil sector.

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

He explained that the sale was conducted purely on a commercial basis.

Mr Miller also said mechanisms had been put in place to ensure a favourable refinancing package to support the initiative.

He praised the government for initiatives to improve refinery operations in Ghana, describing the development as “a fantastic achievement.”

Mr Miller also highlighted the growing role of Sentuo Oil Refinery 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,” he said.

The development comes as Tullow expects to increase its crude liftings for the year.

Tullow Targets 14 Cargoes in 2026

In its half-year results, Tullow said it expects to lift 14 cargoes in 2026.

Eleven of the cargoes are expected from the Jubilee field, while three will come from the TEN fields.

The revised outlook represents an increase of two Jubilee cargoes compared with the company’s initial guidance issued in November 2025.

Tullow delivered six cargoes during the first half of the year and plans to lift a further eight cargoes in the second half.

The company also expects the measures currently being implemented to improve its performance and support a stronger turnaround by the end of the year.

The sale of Jubilee crude to a local refinery provides another commercial channel for Ghana’s domestically produced crude and strengthens the link between upstream production and domestic refining.

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