Ghana accumulates $521.86m from its crude oil exports for 2023

In the latter part of 2023, Ghana’s Second-Half Petroleum Funds report reveals significant earnings from crude oil, totaling $521.86 million.

Of this, $319.73 million came from liftings between May and October 2023.

In addition to oil revenue, the country received $198.6 million in corporate tax from companies like Kosmos Energy, Tullow Oil, and Petro SA.

Further income included $3.32 million in interest from Petroleum Holding Funds and $112,082 from surface rental.

Notably, investments through Ghana Petroleum Funds yielded substantial returns, reaching $1.23 billion, with the Ghana Heritage Fund contributing $1.046 billion and the Ghana Stabilisation Fund $190.38 million.