Ghana’s PHDC advancing Phase 2 of multibillion-dollar downstream petroleum hub

Oil & Gas Journal · Robert Brelsford · 2026-10-26 00:00 UTC

The project's proposed second phase would add major refining, petrochemical, storage, and marine capacity to Ghana’s planned hub, advancing the country's ambition to serve domestic...

Ghana’s Petroleum Hub Development Corp. (PHDC) has entered a memorandum of understanding (MOU) with an international consortium for a proposed $28-billion second phase of the country’s multiphased petroleum hub to be built in the Jomoro municipal district of the country’s Western Region.

Signed with a consortium led by UAE-based Global Sphere FZE on behalf of investors from South Korea, Mali, and the UAE, the MOU covers development of Phase 2’s planned 300,000-b/sd refinery, two petrochemical plants, 4 million cu m of storage, and a multi-berth jetty under a build-own-operate model that—if approved—would lead to start of construction within 6 months of the agreement’s Oct. 19 signing, PHDC said in a release.

Phase 2 will be the second tranche of the three-phased project that collectively aims to add three grassroots refineries totaling 900,000 b/sd, five new petrochemical plants, fresh storage capacity of 10 million cu m, and at least two jetties supporting imports and exports.

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