Ghana received a total amount of $356.25 million oil revenue in the second half of the year, comprising lifting proceeds, surface rentals and corporation income tax.
This was however transferred into the Petroleum Holding Fund (PHF).
According to the Semi Annual Petroleum report (July-December 2020), total petroleum revenue distributed was $316.07 million.
The Ghana National Petroleum Corporation (GNPC) received $118.24 million, the Annual Budget Funding Amount (ABFA) received $103.87 million, whiles the Ghana Stabilization Fund (GSF) and the Ghana Holding Fund (GHF) received an allocation of $65.77 million and $28.19 million respectively during the period under review.
Importantly, the GHF and GSF total return for 2020 was 4.66% and 0.35% respectively.
Realised income on the Ghana Petroleum Funds in the second half year was $8.93 million (GHF contributed $8.05 million and GSF contributed U$0.88 million) as compared to half-year 2019 total net realised income of $10.76. GSF and GHF accumulated reserves were $199.99 million and $644.79 million respectively.
From the figures above, the realized income were impacted by the covid-19 pandemic.
Crude oil lifting
During the second half year of 2020, the Ghana Group (GNPC lifting on behalf of Government of Ghana) lifted the 16th and 17th parcels of crude oil from the Tweneboa, Enyenra and Ntomme (TEN) field, 55th, 56th and 57th parcels from the Jubilee field, and the 6th parcel from the Sankofa Gye Nyame (SGN) field.
The PHF received a total amount of $261.00 million from lifting proceeds in half-year two 2020 compared to receipts of $235.28 million in first half-year (H1), 2020.
Other income
During the period under review, a total amount of $95.25 million was received from various entities for the payment of surface rental and corporation income tax.
The amounts received in respect of other income comprise $0.269 million for surface rental and $94.98 million for corporation income tax.
Latest Stories
-
Photos from DW-JoyNews street debate on ‘galamsey’
1 min -
Mimmy Yeboah: Blending heritage with global sophistication, confidence redefined through couture
16 mins -
Akufo-Addo commissions 97-km Tema-Mpakadan railway line
44 mins -
Majority requests recall of Parliament
1 hour -
Kanzlsperger and Professor Quartey support WAFA with medical Donation
1 hour -
Gideon Boako donates 10 industrial sewing machines to Yamfo Technical Institute
1 hour -
‘Golden Boy’ Abdul Karim Razak honored at WAFU-B general assembly
2 hours -
Buipewura Jinapor secures Vice Presidential position in National House of Chiefs with record votes
2 hours -
2024 election: I want results to come out like ‘milk and honey’ – Toobu
2 hours -
Ghana’s Henry Bukari hands over chairmanship of ECOWAS Brown Card Council of Bureaux
2 hours -
Residents of Dome-Kwabenya on edge ahead of December elections
2 hours -
Moffy drops new single ‘Wo’, blending culture and modernity
3 hours -
Don’t bring soldiers to polling stations – Martin Kpebu
3 hours -
Ogyeahohuo Yaw Gyebi II retained as President of National House of Chiefs
3 hours -
Embrace ICT to fit in digital world – Ho NYA boss to youth
4 hours