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Non-payment of surface rentals by IOCs depriving Ghana of revenue

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Some International Oil Companies (IOCs) operating in Ghana’s oil field have consistently failed to honour their surface rental obligations to the country.

Surface rentals are sources of revenue for many oil producing countries worldwide.

According to the Public Interest and Accountability Committee, PIAC, the non-payment of the surface rentals deprives the nation of revenues.

Speaking in an interview, the Chairman of PIAC, Nobel Wadjah said the Ministries of Energy and Finance must ensure that petroleum related monies due the state are collected.

Meanwhile PIAC, is concerned about the continues delays in the completion of projects funded with Ghana’s petroleum revenue.

The Technical Manager for PIAC, Mark Agyemang at a meeting on the Annual Budget Funding Amount, ABFA expenditure on service delivery in the health sector expressed worry that a number of ABFA-funded projects across the country have stalled.

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