{"id":461063,"date":"2011-07-14T17:08:40","date_gmt":"2011-07-14T17:08:40","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/07\/14\/ghana-expects-to-earn-gh%c2%a21-2b-from-oil-in-2011\/"},"modified":"2011-07-14T17:08:40","modified_gmt":"2011-07-14T17:08:40","slug":"ghana-expects-to-earn-gh%c2%a21-2b-from-oil-in-2011","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/07\/14\/ghana-expects-to-earn-gh%c2%a21-2b-from-oil-in-2011\/","title":{"rendered":"Ghana expects to earn GH\u00a21.2b from oil in 2011"},"content":{"rendered":"<div readability=\"67.7678571429\">\n<p>You Are Here: <a href=\"http:\/\/www.ghanabusinessnews.com\">Home<\/a> \u00bb <a href=\"http:\/\/www.ghanabusinessnews.com\/category\/lead-story\/\" title=\"View all posts in Lead Story\" rel=\"category tag\">Lead Story<\/a>, <a href=\"http:\/\/www.ghanabusinessnews.com\/category\/oil-and-gas\/\" title=\"View all posts in Oil &#038; Gas\" rel=\"category tag\">Oil &#038; Gas<\/a> \u00bb Ghana expects to earn GH\u00a21.2b from oil in 2011<\/p>\n<div>\n<p><span>Page last updated at Thursday, July 14, 2011 17:17 PM \/\/ <\/span><\/div>\n<p><a href=\"http:\/\/www.ghanabusinessnews.com\/wp-content\/uploads\/2008\/12\/oil2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-365\" title=\"oil\" src=\"http:\/\/www.ghanabusinessnews.com\/wp-content\/uploads\/2008\/12\/oil2.jpg\" alt=\"\" width=\"248\" height=\"210\" \/><\/a>The government of Ghana is expecting to earn revenue GH\u00a21,250.8 million in 2011, the Minister of Finance and Economic Planning has said.<\/p>\n<p>In Parliament to seek approval for a supplementary expenditure for 2011, Dr. Kwabena Duffuor said the estimate was based on the new oil price assumption of $100 per barrel as well as the revised estimated average oil production of\u00a0 84,737 barrels per day and the new exchange rate assumption, total revenue from oil including the National Oil Company\u2019s carried and participation interest.<\/p>\n<p>He however indicated that, of this amount the Benchmark Revenue is estimated at GH\u00a2923.4 million.<\/p>\n<p>The remaining, he said is the amount due the Ghana National Petroleum Corporation (GNPC) as its equity and cash ceded to it.<\/p>\n<p>He gave the following breakdown of the revenue as follows:<\/p>\n<p>&#8211; Company taxes \u2013 GH\u00a2603,764,335;<\/p>\n<p>&#8211; Royalties \u2013 GH\u00a2201,250,375<\/p>\n<p>&#8211; Carried and Participation Interest \u2013 GH\u00a2445,769,014.<br \/>Ghana became an oil producer on December 15, 2010 when commercial oil production in the Jubilee oil fields began.<\/p>\n<p>\u00a0<\/p>\n<p>By Emmanuel K. Dogbevi<\/p>\n<h4>Comments<\/h4>\n<\/div>\n<p>Link:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.ghanabusinessnews.com\/2011\/07\/14\/ghana-expects-to-earn-gh\u00a21-2b-from-oil-in-2011\/\" title=\"Ghana expects to earn GH\u00a21.2b from oil in 2011\" rel=\"noopener noreferrer\">Ghana expects to earn GH\u00a21.2b from oil in 2011<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> You Are Here: Home \u00bb Lead Story , Oil &#038; Gas \u00bb Ghana expects to earn GH\u00a21.2b from oil in 2011 Page last updated at Thursday, July 14, 2011 17:17 PM \/\/ The government of Ghana is expecting to earn revenue GH\u00a21,250.8 million in 2011, the Minister of Finance and Economic Planning has said. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-461063","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - 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