Ghana’s crude oil production increased by 10.7 per cent in the first half of 2024 compared to a 13.2 per cent decline in the previous year. The increase from 22,452,078.81 barrels (bbls) in the first half of 2023 to 477.52 bbls in the same period of 2024 was due to the coming on stream of […]
Ghana’s crude oil production increased by 10.7 per cent in the first half of 2024 compared to a 13.2 per cent decline in the previous year. The increase from 22,452,078.81 barrels (bbls) in the first half of 2023 to 477.52 bbls in the same period of 2024 was due to the coming on stream of […]
The Public Interest and Accountability Committee (PIAC), the body set up to monitor the utilisation of petroleum revenue, has suggested measures to deal with the decline in crude oil production in Ghana. To effectively address the decline in crude oil production, PIAC said, Ghana needs a multi-pronged strategy focused on economic diversification, sustainable exploitation of […]
Auditing expended oil revenue at the district Assemblies is a challenge, some Internal Auditors of the Ghana Audit Service (GAS) have disclosed. This, according to them, the lack of a clear outlining of how much oil revenue fund makes up the District Assemblies Common Fund (DACF) disbursement of each assembly was worrying. Mr Richard Mortey, […]
Auditing expended oil revenue at the District Assemblies is a challenge, some Internal Auditors of the Ghana Audit Service (GAS) have disclosed. This, according to them, the lack of a clear outlining of how much oil revenue fund makes up the District Assemblies Common Fund (DACF) disbursement of each assembly was worrying. Mr Richard Mortey, […]
Domestic crude oil production has continued its significant decline for the fourth consecutive year. In 2023, there was a notable decrease in output with production plummeting to 48.25 million barrels (bbls) – down from a peak of 71.44 million barrels in 2019. Moreover, from the three producing oil fields – Jubilee, Tweneboa-Enyenra-Ntomme (TEN) and Sankofa […]
Crude oil output from Ghana’s three main fields totaled just 48.25 million barrels last year, a 9.2 per cent annual drop from the 2019 peak of 71.44 million barrels. This was contained in the 2023 Annual Report of the Public Interest and Accountability Committee (PIAC) Report on use and management of oil revenues launched in […]
The government received the highest petroleum revenue for a single year in 2022 since the start of petroleum production in the country in 2010. Data from the 2022 Annual Report of the Public Interest and Accountability Committee (PIAC) showed that petroleum receipts for 2022 amounted to $1.43 billion, representing an increase of 42 per cent […]
PIAC Reports Get the updated report on our oil revenue managements Read More PIAC Statistics PIAC interactive Statistics portal for dynamic report analysis Read More PIAC Polls Join the polls to have your say to improve transparency Read More 2024 Message from PIAC Chair As one year ends and another one dawns, the new […]
A Brief History of PIAC Most Ghanaians greeted the news of the discovery of oil and gas in commercial quantities off the west coast of Ghana, in 2007 with a mix of hope and anxiety. For some, there were good reasons to be hopeful – the onset of oil and gas will unleash massive financial […]
