Ghana earned over $1.35 billion in petroleum revenues in 2024, representing a 27.8% increase compared to the previous year. The growth was mainly driven by higher income from Carried and Participating Interest (CAPI), Corporate Income Tax (CIT), and royalties. The Ghana Revenue Authority, mandated by the Petroleum Revenue Management Act, collected revenues from oil companies and paid them into the Petroleum Holding Fund (PHF). Payments included royalties, CAPI, CIT, surface rentals, and other sources. Crude oil liftings contributed $843.5 million to the PHF. This was a 22.2% rise from 2023. The Jubilee Field alone accounted for $475.4 million, with six liftings recorded. CAPI was the largest revenue stream, totaling $603.5 million. CIT followed with $502.9 million. Royalties brought in $239.9 million, while income from PHF investments stood at $10.8 million. Despite the strong performance, issues remain. Proceeds from GNPC Explorco’s liftings, totaling $145.7 million, were not pai...