The Semi-Annual Report on the management and usage of petroleum revenues in Ghana for the first half of 2022 has been released by the Public Interest and Accountability Committee (PIAC).
Section 56 of the Petroleum Revenue Management Act (PRMA), 2011, has been met by doing this (Act 815).
The report, which covers the months of January to June 2022, covers a wide range of topics related to managing petroleum revenue, including data on production, liftings, total revenues accruing and allocated by the government, ABFA utilization, and the administration of funds set aside in the Ghana Petroleum Funds (Ghana Stabilisation Fund and the Ghana Heritage Fund).
Key among the Committee’s findings and recommendations was a demand for the whereabouts of US$100 million oil proceeds which was not paid into the Petroleum Holding Funds as required by law.