Tag Archives: Oil cash

Petroleum Revenue Mgt. Act breached for 7-yrs running – PIAC

The Public Interest and Accountability Committee (PIAC), has lamented the poor handling of projects funded with Ghana’s oil revenue without adherence to the Petroleum Revenue Management Act. According to a member of PIAC, Dr. Steve Manteaw, successive governments have breached the Act for seven years running. The Act mandates the Finance Minister to report on all oil-funded projects in the ...

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Ghana’s petroleum revenue hits all-time-low in 2016 [Infographic]

Ghana received a little over $247.18 million in 2016 from oil revenue – the lowest amount since Ghana began commercial production of oil in 2011. In 2011, when commercial production commenced, the country received $444.12 million in 2012 and $ 541.62 million and $846.77 million in 2013 and 2014 respectively. The country recorded the highest oil revenue in 2014, with ...

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NDC gov’t spent GHc317m oil cash on capacity building

While lack of expertise continue to hinder Ghanaian companies from exploring opportunities in the oil and gas sector, government splashed a whopping GH¢317 million (GH¢317,109,617) on capacity-building between 2011 and 2016. Despite this colossal amount, Ghana continues to grapple with skilled technical labour – giving room for expatriates to snap lucrative jobs in the sector. Capacity-building is one of the ...

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Coastal communities needs more support – Chief

The paramount chief of the Lower Dixcove Traditional Area in the Western Region Nana Kwesi Agyemang IX who is also the chairperson of the Western Region Coastal Foundation has said that although some concerns of communities affected by the exploitation of oil and gas resources have been addressed by stakeholders in the sector, more needs to be done to mitigate ...

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