{"id":60063,"date":"2023-04-21T14:09:26","date_gmt":"2023-04-21T14:09:26","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/04\/21\/ghana-bagged-8-8bn-oil-money-between-2011-and-2022\/"},"modified":"2023-04-21T14:09:26","modified_gmt":"2023-04-21T14:09:26","slug":"ghana-bagged-8-8bn-oil-money-between-2011-and-2022","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/04\/21\/ghana-bagged-8-8bn-oil-money-between-2011-and-2022\/","title":{"rendered":"Ghana bagged $8.8bn oil money between 2011 and 2022"},"content":{"rendered":"

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Data from the Public Interest and Accountability Committee (PIAC) shows that Ghana\u2019s total petroleum revenue between 2011 and 2022 amounted to US$8.8 billion, with the year 2022 recording the highest realized petroleum revenues in the Petroleum Holding Fund (PHF).<\/p>\n

The total petroleum revenue in 2022 is the highest for a single year since petroleum production began in Ghana, with a figure of US$1.43 billion.<\/p>\n

\"\"<\/p>\n

The least revenue for the years under review was recorded in 2016 when some US$247,000 was generated.<\/p>\n

Despite this development, the country\u2019s Surface Rental Arrears continue to rise.<\/p>\n

It increased from US$2.58 million in 2021 to US$2.77 million in 2022, with 65 percent (US$1.80 million) owed by four contractors whose Petroleum Agreements were terminated in 2021, according to the PIAC report.<\/p>\n

The report further notes that efforts made by the Ghana Revenue Authority to retrieve the arrears are yet to yield the desired results.<\/p>\n

\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Data from the Public Interest and Accountability Committee (PIAC) shows that Ghana\u2019s total petroleum revenue between 2011 and 2022 amounted to US$8.8 billion, with the year 2022 recording the highest realized petroleum revenues in the Petroleum Holding Fund (PHF). 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