Ghana bags $696.8m from oil receipts in second-half of 2022

Ghana bagged $696.815 million from oil lifting, corporate tax and other income in the second-half of 2022, the Ghana Petroleum Funds report has disclosed.

About $492.186 million was secured from oil lifting between July 2022 and December 2022.

In all, five liftings took place with the Sixty-sixth Jubilee recording the highest amount of $119.83 million.

Also, $202.55 million was received by the State as corporate tax between July 2022 and December 2022.

The corporate tax were paid by Tullow Oil, Kosmos and PetroSA.

Interest income accrued from the Petroleum Holding Fund was, however, estimated at $2.07 million.

According to the data, $191.48 million was allocated as investments.

So far, $1.06 billion has been accrued as petroleum investments as of December 31, 2022. They comprise of the Ghana Stabilisation Fund and the Ghana Heritage Fund.

For the GSF, the estimated amount is $143.6 million. $363.76 million has so far been withdrawn since Ghana began producing oil in 2011.

The Ghana Heritage Fund is however made up of $918.2 million as of December 2022.

Comments

Ghana Home Loans

With interest rates declining, a more liquid environment and a macroeconomic stability, mortgage financing is expected to see an ease of credit. And Ghana Home Loans being a leader in this industry is expected to lead the way. Ghana Home Loans (GHL), a leader in home mortgage, continues to be the frontier in fulfilling dreams of many Ghanaians in homeownership. Since starting business in 2006, it has also provided many existing homeowners with Equity Release mortgages to support their businesses, pay educational fees, improve their properties, or simply pursue other personal hobbies and interests. Ghana Home Loans is a mortgage finance institution which operates under Bank of Ghana’s supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Through the Home Completion mortgage and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applican

Rana Motors celebrates 30 years of Kia Sportage in Ghana with the unveiling of 30 Unique Limited Models

In a bold milestone, Rana Motors , a leading player in the automobile industry, is marking 30 years of its flagship compact SUV , the Kia Sportage presence on the Ghanaian market with the launch of the limited special edition of the 5th Generation model. This latest edition, proudly assembled in Ghana, reflects the brand’s commitment to combining local craftsmanship with cutting-edge technology with key upgrades including acoustic laminated glass for a quieter interior and reinforced safety features like eight airbags, including rear side airbags. Speaking during a brief ceremony to unveil the 30th Anniversary of Kia Sportage in Ghana, Chief Operating Officer of Rana Motors Kassem Odaymat, described the positioning of the company as a game-changer in the automotive landscape. To mark three decades of outstanding success, Kia has equipped a new special edition of the 2024 Sportage with enhanced specification, focusing on convenience and safety while further elevating the model’s

Index of industrial production surges to 8.2% in 2024 2nd quarter

The Conference of Heads of Assisted Secondary Schools (CHASS) has expressed frustration over the challenges faced in securing electricity for schools across the country. During their 62nd Annual Conference, held in Tamale from October 7 to 11, CHASS voiced concerns about the impact of prepaid electricity meters on their operations. In a statement, CHASS highlighted that the use of Electricity Company of Ghana (ECG) prepaid meters in schools is worsening the financial strain on headteachers. CHASS is extremely surprised as to why its members should be burdened with the responsibility of pre-financing the supply of electricity for classrooms, libraries, dormitories, dining halls, laboratories, and other academic purposes," the statement read. CHASS called for the government's immediate intervention, urging the shift from prepaid to postpaid meters to ensure uninterrupted electricity supply. They emphasized the need for continuous power to support effective academic work and to

Kofi Ahovi

Search This Blog