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GHANA WEATHER

Ghana Petroleum Revenue Highlights from Second Half of 2023; shows marginal increase

Petroleum
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In the second half of 2023, Ghana’s crude oil revenue amounted to $521.86 million, as per the Second-Half of Ghana Petroleum Funds 2023 report.

Crude Oil Revenue: Out of the total, $319.73 million was secured from crude oil liftings between May and October 2023.

Corporate Tax: Ghana received $198.6 million from corporate taxes on crude oil liftings by Kosmos Energy, Tullow Oil, and Petro SA.

Interest and Other Income: Additionally, $3.32 million was earned as interest from the Petroleum Holding Funds, with an estimated $112,082 from surface rental.

Investments: Investments from the Ghana Petroleum Funds stood at $1.23 billion, yielding $18.12 million during the period.

Heritage and Stabilisation Funds: The Ghana Heritage Fund contributed $2.78 million, while $15.33 million was gained from the Ghana Stabilisation Fund.

These figures showcase Ghana’s significant revenue streams and financial activities within the petroleum sector during the latter half of 2023.

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