Tullow Oil has officially commenced domestic crude oil sales from the offshore Jubilee and TEN fields to local refineries, with the Sentuo Oil Refinery taking delivery of the inaugural cargo earlier in 2026 in a major shift toward retaining upstream value and strengthening domestic energy security.
The company says its first cargo under the arrangement was sold earlier this year to Sentuo Oil Refinery.
Tullow Chief Financial Officer Richard Miller disclosed the development during a virtual investor meeting on the company’s half year results, responding to a question about efforts to encourage more Jubilee crude to be refined in Ghana.
“This is a fantastic achievement looking at what has happened in Ghana’s oil sector over the years,” Mr Miller said.
Sale Done on Commercial Terms
According to the Tullow executive, the transaction was structured on a commercial basis rather than as a mandatory domestic supply arrangement.
He said mechanisms had also been put in place to support a favourable refinancing package around the initiative.
Mr Miller praised government efforts to improve refinery operations and said Sentuo Oil Refinery was becoming an increasingly important buyer of crude produced offshore Ghana.
“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 move gives Ghanaian crude producers another market while creating a stronger commercial link between upstream oil production and the country’s refining industry.
Tullow Targets 14 Cargoes in 2026
Tullow expects to lift 14 cargoes during 2026, according to its half year results. Eleven are expected from the Jubilee field, with another three from the TEN fields.
The latest forecast represents two additional Jubilee cargoes compared with guidance issued in November 2025.
Six cargoes were lifted during the first half of the year, leaving eight expected in the second half.
The company says measures currently being implemented are expected to improve performance through the remainder of the year.
For Ghana, the local sale of Jubilee and TEN crude provides an additional supply option for domestic refiners while reducing the distance between locally produced crude and downstream processing.
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