The Public Interest and Accountability Committee (PIAC) has called for a review of the Ghana National Petroleum Corporation Act, 1983.
PIAC explains that a review of the Act will better define the mandate of the Ghana National Petroleum Commission (GNPC).
Making recommendations in their Semi-Annual Report on the management of petroleum revenues for the first half of 2019, the Committee stated that some functions performed by GNPC in the past, like data respiratory and providing technical advice to the minister, have now been assigned to the Petroleum Commission, hence the need to review the Act.
The report also revealed that average daily production and field input were affected because of a 14-day shut-down period set for maintenance work and inspections.
PIAC also urged the GNPC to proactively plan to respond to cash calls when they are made in order to avoid the cost of borrowing.
The Semi-Annual Report was published on Wednesday, October 30 in fulfilment of Section 56 of the Petroleum Revenue Management Act (PRMA), 2011 (Act 815).
Although it was released later than the expected date, the committee explains that the delay was due to the Finance Ministry’s failure to respond to the committee’s request for data on time.
Below is the full report.
Latest Stories
-
I want to focus more on my education – Chidimma Adetshina quits pageantry
49 mins -
Priest replaced after Sabrina Carpenter shoots music video in his church
1 hour -
Duct-taped banana artwork sells for $6.2m in NYC
1 hour -
Arrest warrants issued for Netanyahu, Gallant and Hamas commander over alleged war crimes
1 hour -
Actors Jonathan Majors and Meagan Good are engaged
1 hour -
Expired rice saga: A ‘best before date’ can be extended – Food and Agriculture Engineer
1 hour -
Why I rejected Range Rover gift from a man – Tiwa Savage
1 hour -
KNUST Engineering College honours Telecel Ghana CEO at Alumni Excellence Awards
2 hours -
Postecoglou backs Bentancur appeal after ‘mistake’
2 hours -
#Manifesto debate: NDC to enact and pass National Climate Law – Prof Klutse
2 hours -
‘Everything a manager could wish for’ – Guardiola signs new deal
3 hours -
TEWU suspends strike after NLC directive, urges swift resolution of grievances
3 hours -
Netflix debuts Grain Media’s explosive film
3 hours -
‘Expired’ rice scandal: FDA is complicit; top officials must be fired – Ablakwa
4 hours -
#TheManifestoDebate: We’ll provide potable water, expand water distribution network – NDC
4 hours