07
Nov
Domestic crude oil production increased by 10.7 percent in first-half 2024, reaching 24.86 million barrels (bbls). The trend, if sustained, will reverse a four-year decline in production volumes, the Public Interest and Accountability Committee (PIAC) has reported. This development marks a sharp turnaround from the 13.2 percent drop recorded during the same period of 2023. The rise is largely driven by the newly operational Jubilee South East (JSE) project. The production boost has also led to a significant increase in petroleum revenues – totalling US$840.8million in H1 2024, up 55.6 percent from US$540.5million in H1 2023. PIAC attributes this increased…