Public Interest Accountability Committee

News

FOUR TERMINATED OIL COMPANIES OWE ALMOST US$2M IN SURFACE RENTAL
21st April 2022

Four contractors, whose contracts were terminated by the Petroleum Commission in 2021 for non-performance, are in arrears of US$1.88million of Surface Rental payments, the latest Public Interest and Accountability Committee (PIAC) report has...

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RECOVER LOANS FROM DEBTORS – PIAC TO GNPC
19th April 2022

With the inability of the Ghana National Petroleum Corporation (GNPC) to meet its budgeted revenue from loans and guarantees to government and its agencies, the Public Interest and Accountability Company (PIAC) has urged the corporation to put on...

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GNPC URGED TO DISCONTINUE GRANTING LOANS, GUARANTEES
14th April 2022

The Public Interest and Accountability Committee (PIAC) has asked the Ghana National Petroleum Corporation (GNPC) to double up efforts at recovering loans and guarantees amounting to US$318.09 million. That, according to the Committee was...

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GHANA’S ANNUAL CRUDE OIL PRODUCTION DIPS BY 17.7 PER CENT
14th April 2022

Ghana’s annual crude oil production has declined from 66.9 million barrels (bbl) in 2020 to 55.05 million bbl in 2021, representing a 17.7 per cent decrease. The production level, which is lower than the 2021 Benchmark Revenue crude oil...

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2021 PETROLEUM REVENUES UP 17.5 PER CENT –PIAC
14th April 2022

Total petroleum revenues from Ghana’s three oil fields increased by 17.5 per cent from $666 million in 2020 to $783 million in 2021 due to higher crude oil prices, the Public Interest Accountability Committee (PIAC) has revealed. In its...

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GHANA EARNED $783M IN REVENUE FROM OIL PRODUCTION IN 2021 – PIAC
14th April 2022

The Public Interest and Accountability Committee (PIAC) has revealed that Ghana recorded $783 million in revenue from oil production in 2021. PIAC noted that the increase in revenue was due to the high cost of crude oil prices on the global...

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