GSF

Ghana secured $8.7 billion in total revenue since it started exporting crude oil in April 2011 from its oil fields. This was captured in Ghana’s Petroleum Oil Accounts at the Federal Reserve Bank of New York. The revenue came from, oil liftings, corporate taxes and other incomes. Details of the Accounts The account details showed that oil liftings from April 2011 to December 2022 was $7 billion. In all, $1.4 billion was advanced to the Ghana National Petroleum Corporation (GNPC) as equity financing cost. Also, $1.1 billion went to the GNPC to deal with capital investments. The Annual Budget Funding…