The Bank of Ghana’s latest Petroleum Funds and Report has revealed the country generated $517 million in crude oil revenues during the second half of 2024.
The Ghana Petroleum Funds Report is for the period ending December 31, 2024.
According to the report, $369 million was accrued from crude oil liftings at the Jubilee, TEN, and Sankofa Gye Nyame oil and gas fields, with the liftings occurring between July and October.
The upstream petroleum sector contributed $144 million in corporate taxes, while Planet One Oil and Gas Limited paid $74,000 in surface rental fees.
In addition, the Petroleum Holding Fund generated $3.67 million in interest income.
Of the $454 million allocated to the Ghana Petroleum Funds, the Ghana Heritage Fund received $136.2 million, while the Ghana Stabilisation Fund received $317.8 million.
These funds are critical for the long-term viability of Ghana’s petroleum revenue management framework.
By: Rainbowradioonline.com/Ghana