Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Government gets $780m from Crude oil exports

  • SOURCE: | Editor
  • petroleum

    Government has so far gotten a little over $780 million (over 2 billion Ghana cedis) in revenue  from crude oil exports from January to September this year, representing a 10% increase ( or $72,789,535) on last year’s figures.

    This represents some 4.7 million barrels of crude oil exported through the Ghana National Petroleum Corporation (GNPC) and government’s share of taxes and royalties paid  by the Jubilee partners from January to September 2014

    These were contained in the 2014 Annual Report on Petroleum Funds presented to Parliament.

    The Petroleum Revenue Management Act, 2011 (Act 815), requires the Finance Minister, Seth Terpker, to submit an annual report on the Petroleum Funds as part of the presentation of the annual Budget Statement and Economic Policy to Parliament.

    The report (published in link below) also highlights the events in the upstream petroleum sector.

    It includes activities of the Petroleum Commission, the Ghana National Petroleum Corporation (GNPC) and its subsidiaries and provides an update on the Gas Infrastructure Project (GIP).

    The report also gives an update on the progress of work on the production of oil and gas from the Tweneboa-Enyenra-Ntomme (TEN) and the Sankofa-Gye Nyame Fields.

    According to the report, $306 million will be used to fund projects outlined in the 2015 Budget.

    Source: Myjoyonline

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Jul 2018 >>
    MTWTFSS
    25 26 27 28 29 30 1
    2 3 4 5 6 7 8
    9 10 11 12 13 14 15
    16 17 18 19 20 21 22
    23 24 25 26 27 28 29
    30 31 1 2 3 4 5
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar