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Petroleum revenue contribution to the national budget over the last 10 years has been estimated at US$2.6billion, which is out of a total of US$6.55billion in petroleum receipts (equivalent to 9.97 percent of Ghana’s 2020 GDP) earned between 2011 and 2020 by the Ghana Group from its three producing fields.
Editors' picks

Only US$2.6bn oil revenues allocated to budget in 10yrs

Petroleum revenue contribution to the national budget over the last 10 years has been estimated at US$2.6billion, which is out of a total of...
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A Regional Workshop on the validation of the ECOWAS Draft Petroleum Code opened in Accra on Wednesday morning at the Mensvic Grand Hotel.
Editors' picks

Ghana hosts regional validation workshop on the draft of ECOWAS petroleum code

A Regional Workshop on the validation of the ECOWAS Draft Petroleum Code opened in Accra on Wednesday morning at the Mensvic Grand Hotel. This Workshop...
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One hundred and fifty Ghanaian youth across the country have benefitted from the Accelerated Oil and Gas (AOGC) Programme at the Jubilee Technical Training Center to fill the skills gap in the country’s oil and gas industry.
Education

150 youth benefit from AOGC programme to fill skills gap in the oil and gas industry

One hundred and fifty Ghanaian youth across the country have benefitted from the Accelerated Oil and Gas (AOGC) Programme at the Jubilee Technical Training...
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Headlines

4 terminated oil companies owe almost US$2m in Surface Rental

Four contractors, whose contracts were terminated by the Petroleum Commission in 2021 for non-performance, are in arrears of US$1.88million of Surface Rental payments, the...
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Recover loans from debtors - PIAC to GNPC
Headlines

Recover loans from debtors – PIAC to GNPC

With the inability of the Ghana National Petroleum Corporation (GNPC) to meet its budgeted revenue from loans and guarantees to government and its agencies,...
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The Bank of Ghana (BoG) is taking significant steps to restore macroeconomic stability through major monetary and exchange rate policy changes, on the back of approval for a 36-month arrangement under the International Monetary Fund's (IMF) US$3billion Extended Credit Facility (ECF).
Headlines

BoG introduces FX auction for BDCs to tackle shortage

The Bank of Ghana has taken steps to address the perennial shortage of dollars for the local petroleum sector, with the introduction of a...
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The country’s failure to adopt and implement a long-term national gas strategy - almost 12 years into commercial crude oil production
Headlines

Inconsistent national gas plan affecting sector growth

The country’s failure to adopt and implement a long-term national gas strategy - almost 12 years into commercial crude oil production - has been...
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Kenyan’s delegation to understudy Petroleum Downstream Regulation
Headlines

Kenyan’s delegation to understudy Petroleum Downstream Regulation

Kenya’s Energy and Petroleum Regulatory Authority (EPRA) officials are in Ghana, to tap into the expertise of the petroleum downstream sector and exchange ideas...
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Business

Rising fuel prices – why?? Are we alone in this?

The Discovery of crude oil in the Middle East changed their fortunes because of continuous demand for the commodity. Life does not exist without...
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Absa Bank and Tullow explore long-term collaboration
Banking & Finance

Absa Bank and Tullow explore long-term collaboration

Absa Bank Ghana has signaled its commitment to closely collaborate with leading energy companies such as Tullow Ghana, in developing the oil and gas...
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