The 2024 report on petroleum revenue utilisation priced by the Public Interest and Accountability Committee (PIAC) has made a number a number of recommendations to the government of Ghana’s upstream petroleum industry. This was after the report made several observations in the upstream petroleum industry. The PIAC report observed that total petroleum revenues for 2024 […]
Ghana’s crude oil production has declined for the fifth consecutive year, dropping from a peak of 71.44 million barrels in 2019 to 48.25 million barrels in 2024, according to the 2024 Annual Report released by the Public Interest and Accountability Committee (PIAC). The report highlights a marginal year-on-year decline of 0.01 percent and an average […]
The country recorded a nearly 28 percent increase of petroleum revenues in 2024, defying a continued decline in crude oil production and a fifth straight year without new petroleum agreements. According to the 2024 annual report of the Public Interest and Accountability Committee (PIAC), total petroleum receipts reached US$1.36billion in 2024 – up from US$1.06billion […]
Ghana’s petroleum revenue surged to US$1.35 billion in 2024, representing a 27.8% increase from the US$1.06 billion earned in 2023, according to the 2024 Annual Report by the Public Interest and Accountability Committee (PIAC). This marks the second-highest annual petroleum revenue since Ghana commenced oil production in 2011. The all-time record remains the US$1.42 billion […]
A market constructed to boost economic activities and bring relief to traders at Kwaso in the Ejisu Municipality of Ashanti Region has been left unoccupied, four years after its completion. The GHC890,000 facility remains empty whilst traders continue to ply their trading activities by the roadside. “Some of us used to occupy the market but […]
The Public Interest and Accountability Committee (PIAC) is questioning the government’s motive not to disburse any of the accrued petroleum revenue for industrialisation in the first half of the year. The 2024 semi-annual report of the Committee revealed the government failed to make any allotment to boost industrial growth despite being cited as a priority […]
The Public Interest and Accountability Committee (PIAC) has made an urgent appeal to government to complete the Anomabo Fisheries College and get it running to revitalise the fisheries sector. Having selected Agriculture and Fisheries as a priority area, the Committee has entreated government to allocate adequate amount of oil revenue to complete the project to […]
The Public Interest and Accountability Committee (PIAC) is pressing government to demonstrate actual commitment to its industrialisation agenda by allocating more petroleum revenue to build industries to drive growth. The 2024 PIAC semi-annual report indicates that government failed to disburse any revenue to the sector in the first half of the year, even though industrialisation […]
Ghana’s crude oil production increased by 10.7 per cent in the first half of 2024 compared to a 13.2 per cent decline in the previous year. The increase from 22,452,078.81 barrels (bbls) in the first half of 2023 to 477.52 bbls in the same period of 2024 was due to the coming on stream of […]
Domestic crude oil production increased by 10.7 percent in first-half 2024, reaching 24.86 million barrels (bbls). The trend, if sustained, will reverse a four-year decline in production volumes, the Public Interest and Accountability Committee (PIAC) has reported. This development marks a sharp turnaround from the 13.2 percent drop recorded during the same period of 2023. […]
