Ghana’s oil revenue increases to US$840m in first half of 2024

Ghana's oil revenue reached US$840 million in the first half of 2024, a 36% increase from US$540 million in the same period of 2023.

According to the Petroleum Holding Fund report by the Bank of Ghana, revenue came from oil liftings, corporate tax, surface rental, and interest on the Petroleum Fund.

Liftings from six oil fields contributed US$470 million, corporate tax added US$350 million, surface rentals US$580,000, and interest US$7 million.

The Ghana Stabilization Fund received US$91 million, and the Ghana Heritage Fund US$39 million, totaling US$130 million in allocations.

Read full article