Odeefuo Amoakwa Buadu VIII said Ghana’s total crude production since the beginning of commercial oil production has now reached 675.1 million barrels. However, he expressed concern that the country’s output has been falling steadily since its highest level of 71.4 million barrels recorded in 2019.
In financial terms, Ghana received 840.7 million dollars in the first half of the year as against 540 million dollars in the same period last year.
There has been a 55.6 percent increase in revenue received for the period as a result of higher production, which recorded over 10 percent increase.
Ghana recorded a total petroleum revenue of US$1.43 billion in 2022, representing an 82.4 per cent increase of US$783.3 million achieved in 2021.
The DACF has received more than GH¢32,380,403.91 from the ABFA in 2021 following a 2019 decision of the Supreme Court in the case of Kpodo vs The Attorney-General.
Petroleum revenue: 80% of recommendations made need to be worked on – PIAC
PIAC wants a timely assessment of Ghana’s management and use of petroleum revenues to identify areas of strength and weakness to strategise for the future