Comprehensive  Ghana Oil and Gas news, information, updates, analysis

News in Brief

#Budget2018: US$362.58m bagged from crude oil

  • SOURCE: Classfmonline | qwesa2big
  • Total petroleum receipts (i.e. proceeds from liftings and other sources) as of September 2017 was US$362.58 million (GHȻ1,552.13million), Finance Minister Ken Ofori-Atta has said.

    “This compares with the receipts of US$172.91 million (GHȻ671.49 million) for the same period in 2016,” he told parliament on Wednesday, 15 November when he presented the 2018 budget.

    Receipts from crude oil liftings for the period up to September 2017 accruing from the 35th (lifted in December 2016) to the 38th Jubilee liftings and 1st (also lifted in December 2016) to 3rd TEN liftings, was US$339.32 million (GHȻ1,451.39 million).

    Out of the total revenue of US$362.58 million, GNPC (the National Oil Company) was allocated a total of US$126.67 million made up of Equity Financing Cost of US$74.86 million) and an amount of US$51.81 million, representing its share of the net Carried and Participating Interest.

    An amount of GHȻ796.32 million of the ABFA allocation was programmed for utilisation in 2017, of which, GHȻ238.89 million and GHȻ557.42 million were programmed allocated for Goods and Services and Capital Expenditure, respectively, he said.

    Leave a reply

    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes ( with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Twitter Activity Stream

    Partners We are proud to be associated with:

    Skip to toolbar