Public Interest Accountability Committee

News

COMMON FUND STARVED OF OIL FUNDS — PIAC WORRIED
4th October 2022

The Semi-Annual Report 2022, authored by the Public Interest and Accountability Committee (PIAC), has revealed that no transfer of funds from the Annual Budget Funding Amount (ABFA) was made into the District Assembly Common Fund (DACF) in the first...

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CRUDE OIL PRODUCTION ON A 3-YEAR DOWNWARD SPIRAL
4th October 2022

The country recorded 25.8 million (bbls) of crude oil in the first half-year of 2022 from its three offshore producing fields – Jubilee, Tweneboa Enyera and Ntomme (TEN) and Sankofa Gye Nyame (SGN), a reduction of about 1.9 million barrels...

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PIAC DECRIES NON DISBURSEMENT OF OIL REVENUE TO DACF
29th September 2022

There was no disbursement of oil revenues into the District Assembly Common Fund (DACF) for the first half of this year to enable assemblies to continue oil-funded projects across the country. The Ministry of Finance failed to make the transfer...

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$100.74 MILLION ACCRUED FROM OIL LIFTED BY JOHL NOT PAID INTO PHF – PIAC
29th September 2022

An amount of $100.74 million accrued from oil lifted by Jubilee Oil Holdings Limited (JOHL), a subsidiary of the Ghana National Petroleum Corporation (GNPC) was not paid into the Petroleum Holding Fund (PHF) as required by law. Section 7 of the...

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10 IOCS OWE GHANA $2.77M RENTAL FEE ARREARS
29th September 2022

A total of 10 International Oil Companies (IOCs) owe Ghana surface rental fee arrears of $2.77million, the 2022 semi-annual Public Interest and Accountability Committee (PIAC) report, has revealed. Of the outstanding debt, $1.7 million,...

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JOHL DIDN’T PAY $100M OIL MONEY IN H1 2022 INTO PHF – PIAC REPORT
28th September 2022

Following the acquisition of seven percent interest in the Jubilee and TEN Fields by GNPC in 2021 (later ceded to its subsidiary - JOHL), JOHL made its first lifting (944,164bbls) on the Jubilee Field in H1 2022, amounting to US$100,748,907.95. This...

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