Public Interest Accountability Committee

Distributions of Receipts

Distribution of Petroleum Receipts, 2011-2016 (Million US$)

Year Total Annual Receipts (US$)

GNPC

ABFA

GSF

GHF

2011

444,124,724

207.96

166.96

54.81

14.40

2012

541,623,741

230.95

286.55

16.88

7.34

2013

846,767,184

222.32

273,20

245.73

105.31

2014

978,017,693

180.71  

409.07

271.76

116.47

2015

396,172,909

126,86

292.98  

15.17

6.50

2016 247,175,394 88.60 98.38 29.51 12.65
Total 3,453,881,645 1057.40 1527.14 633.86 262.57

Source: Ministry of Finance, 2017

Total revenue since 2011 reached US$3.45billion by the end of 2016. Of this amount, GNPC received 30% whilst the ABFA benefited from 44% of the total. The Ghana Stabilisation Fund has received 18% of total revenues over the period even though a portion of this has been transferred into the Sinking Fund for debt repayment in accordance with the amended PRMA (Act 893), 2015. The Ghana Heritage Fund has received 8% of total allocation which has been invested outside the country in accordance with investment provisions of the PRMA. Allocations to the various accounts have largely been influenced by the amount of revenue for each year.