BTA2023 The Bank of Ghana’s recently released report on the performance of Ghana’s Petroleum Funds for the second half of 2024 highlights remarkable progress in the sector. The report, issued under the Petroleum Revenue Management Act (PRMA), reveals a substantial increase in oil revenue and fund allocations, with investments in Ghana’s petroleum funds growing to an impressive $1.4 billion.
Crude oil lifting alone contributed $543 million during this period, while additional income sources, including corporate taxes from oil and gas companies, surface rentals, and returns from the Petroleum Holding Fund (PHF), brought in an extra $144 million. This significant growth underscores the robust performance of Ghana’s petroleum sector and its critical role in the nation’s economic stability and development.
