Ghana bags $731.9m from crude oil receipts in half-year of 2022

Ghana earned $731.9 million from crude oil receipts in the first half of this year, the Ghana Petroleum Funds Report has revealed.

Out of it, $544.61 million was realised from crude oil liftings in the first five months of 2022.

$186.3 million was however secured from corporate tax paid by the oil producing companies including Tullow, Kosmos and Petro Sa.

$992.3 million was obtained from surface rental and interest from the Petroleum Holding Fund.

For the crude oil liftings, $108.8 million and $104.1 million which were the biggest earnings were secured from liftings on March 6th, 2022 (Ninth SGN) and March 26th, 2022 (sixty fith Jubilee) respectively.

With regard to surface rental, AGM Petroleum Gh paid the highest tax of $174,100, followed by Aker with $150,750.

Meanwhile, the country earned $1.2 billion at the end of June 2022 as investments from oil revenue, since the beginning of commercial oil production in 2011.

The Heritage Fund invested with the New York Reserve Bank accrued $377 million, while the Stabilisation Fund recorded $846 million.

Source:Ghana bags $731.9m from crude oil receipts in half-year of 2022 –