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 […]
Ghana’s crude oil production saw a decrease of 6.78% in 2023, contributing to an average annual decline of 9.2% over the past four years, according to the Public Interest Accountability Committee’s (PIAC) 2023 Annual Report on the Management and Use of Petroleum Revenue. The report revealed that Ghana produced 48,247,036.61 barrels of oil in 2023, […]
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 Public Interest and Accountability Committee (PIAC) says it has observed with concern, a decline in crude oil production for four years running. According to the Committee, this is a worrying trend that must be curbed. “Crude oil production declined for the fourth consecutive year in 2023. Production dropped from a high of 71.44 million […]
Ghana’s crude oil production declined for the fourth consecutive year in 2023, a report by the Public Interest and Accountability Committee (PIAC) has said. According to PIAC’s Annual Report on Petroleum Revenue Management, the country’s crude oil production reduced “from a high of 71.44 million barrels in 2019 to 48.25 million barrels in 2023.” The decline […]
The 2023 Public Interest and Accountability Committee (PIAC) Annual Report has revealed that crude oil production in Ghana has declined for the fourth consecutive year in 2023. The report revealed that crude oil production dropped from a high of 71.44 million barrels in 2019 to 48.25 million barrels in 2023, representing an annual average decline […]
The Public Interest and Accountability Committee (PIAC), has asked the Ghana National Petroleum Corporation (GNPC) to double up efforts at recovering loans given to government and its agencies. According to PIAC, the GNPC has an outstanding loan and guarantees amounting to US$126.68million out of an accumulated total of US$318.09 million owed it by government and […]
…as PIAC urges strategic collaboration, financial reforms A report from the Public Interest and Accountability Committee (PIAC) indicates that the Ghana National Petroleum Corporation (GNPC) is in need of an overhaul amid the seismic shift toward sustainability in the global energy landscape. PIAC, in its latest issue paper, has noted the unprecedented pressures faced by […]
The Public Interest and Accountability Committee (PIAC) is pushing for a major revision of the 41-year-old law that established the Ghana National Petroleum Corporation (GNPC). According to the committee, the Provisional National Defence Council Law (PNDCL) 64, which created GNPC in 1983, no longer fits the realities of Ghana’s thriving upstream sector. In its latest […]
The Public Interest and Accountability Committee (PIAC) have introduced a “citizens version” of their 2022 annual report on petroleum revenue management, aiming to provide citizens with accessible information for advocacy and decision-making. Launched by Professor Nana Susubribi Krobea Boaten (S. K. B.) Asante, the former President of the Ghana Academy of Arts and Sciences, the […]
