Ghana Makes $731.9 from Crude Oil
A Report from the Ghana Petroleum Funds has revealed that Ghana, has earned a total of $731.9 million from crude oil receipts in the first half of this year.
Per the report, $544.61 million was realized 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 the 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-fifth Jubilee) respectively.
It was also disclosed that with the surface rental, AGM Petroleum Gh paid the highest tax of $174,100, followed by Aker with $150,750.
Meanwhile, Ghana 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.