FULL TEXT: PIAC's 2022 Semi-Annual report on petroluem revenues, utilisation

This is in fulfillment of Section 56 of the Petroleum Revenue Management Act (PRMA), 2011 (Act 815).

The report covers the period January to June 2022 and encompasses a broad range of issues relating to petroleum revenue management such as information on production, liftings, total revenues accruing and allocation by Government, ABFA utilisation, and the management of the funds set aside in the Ghana Petroleum Funds (Ghana Stabilisation Fund and the Ghana Heritage Fund).

Key among the Committee's findings and recommendations was a demand for the whereabouts of US$100 million oil proceeds which was not paid into the Petroleum Holding Funds as required by law.

See the full report below:

Watch the latest episode of BizTech below: