Browsing: Ghana Oil and Gas

The proposed reforms aim to create a favorable investment climate while bolstering Ghana’s refining capabilities, ensuring that the country maximizes the economic benefits of its petroleum resources.

This is in consistency with the First Schedule (Section 17) of the Petroleum Revenue Management Act (PRMA), 2011 (Act 815) as amended. 

The total petroleum revenue in 2022 is the “highest” for a single year since the inception of petroleum production in…

US$186.3 million was however secured from corporate tax paid by the oil producing companies including Tullow, Kosmos and Petro Sa and US$992.3 million was obtained from surface rental and interest from the Petroleum Holding Fund

Ghana would have lost a colossal US$565 million, if the deal had gone through in the form and shape it was presented by the GNPC last year.