Ghana earns $521m from oil production in H2 2024


Ghana earned over $521 million from crude oil production in the second half of 2023.

This is according to the 2023 Second-Half Ghana Petroleum Funds report by the BoG.

Out of that, the country secured some $319 million from crude oil liftings in the last six months of 2023.

Per the report, crude oil lifting took place between May 2023 and October 2023.

The country also got $198 million from corporate tax during the second half of 2023.

The taxes were from crude oil liftings by Kosmos Energy, Tullow Oil and Petro SA.

Ghana again earned $3.3 million as interest from the Petroleum Holding Funds.

Other income from surface rental was estimated at $112,082.

For the Ghana Petroleum Funds Investments, the nation earned $1.23 billion during the period.

Additionally, the Ghana Heritage Fund brought in $1.05 billion, whilst the $190 million was gotten from the Ghana Stabilisation Fund.

Source: Norvanreports

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