Crude oil production Surge Boosts Ghana's Revenue by 55.6%
Accra, Ghana - Nov 7, 2024 - Ghana's crude oil revenue has surged 55.6% in the first half of the year, compared to the same period last year, according to the Public Interest and Accountability Committee (PIAC).
Higher production volumes, driven by the newly operational Jubilee South East well, fueled the growth.
Oil production increased 10% year-on-year, generating $840.7 million in revenue. However, outstanding surface rental arrears remain a challenge, totaling $1.2 million.
PIAC urges the Ghana Revenue Authority to prioritize arrears recovery and ensure timely deposits into the Petroleum Holding Fund.
Source: Lead News Online
