A member of Public Interest and Accountability Committee (PIAC), Mr Constantine K. M. Kudzedi, has warned that Ghana must act quickly to address the steady decline in crude oil production.
The Public Interest and Accountability Committee (PIAC) will today commence a two-day workshop on finding solutions to the declining crude oil production in the country.
Declining crude oil production in Ghana spanning a four-year period will be the subject for discussion at a two-day technical consultative workshop in Accra.
The Public Interest and Accountability Committee (PIAC) in collaboration with its partners – Kwame Nkrumah University of Science and Technology (KNUST), Ministry of Energy (MoEn), Ghana National Petroleum Corporation (GNPC), Petroleum Commission (PC) and Ghana National Gas Limited Company (GNGLC), is hosting a 2-day technical consultative workshop on16th and 17th October 2024 in Accra.
The Public Interest and Accountability Committee (PIAC) has engaged representatives from its 13- Constituent Bodies to discuss how to strengthen efforts to deepen public accountability in the management and use of the country’s petroleum revenues at its Annual General Assembly (AGA) in Accra.
The Public Interest and Accountability Committee (PIAC) has begun the year with a simultaneous inspection of public infrastructure projects funded with petroleum revenues in the Greater Accra and Central Regions.
Receipts from crude oil liftings (CAPI and Royalties) in Ghana amounted to $690,282,530.89 in 2023 as
compared with U$1,036,800,383.96 in 2022, representing a decrease of 33.4%, the PIAC has reported.
The Public Interest and Accountability Committee (PIAC) has called for investments in data and regulatory reforms in the oil and gas sector to address the continued decline in oil production and the challenges in attracting new investments.
Emerita Professor Elizabeth Schandorf, the Chairperson of Public Interest and Accountability Committee (PIAC) has indicated that their findings in the 2023 annual report on the management and use of Petroleum Revenue reported a decline for the fourth consecutive year.
The Public Interest and Accountability Committee (PIAC) has expressed worry about the decline in oil
production by Ghana and has called on the government and other relevant regulatory bodies to take
steps to reverse the production decline on existing oil fields and ensure investments in unexpected
fields