Ghana’s total petroleum receipts for first half is US$330.3m – Ofori-Atta

Ghana’s total petroleum receipts (i.e. proceeds from liftings and other petroleum receipts) for the first half of 2021 amounted to US$330.3 million, Finance Minister, Ken Ofori-Atta, has revealed to parliament on Thursday, July 29, 2021 in the mid-year budget review.

Of these, proceeds from the sale of the volume of crude oil liftings consisting of the 58th and 59th from the Jubilee field, the 7th from the SGN field, and the 18th from the TEN field totalling 3,840,517 barrels, contributed US$232.24 million.

Out of the total receipts, an amount of US$98.34 million was transferred to GNPC, made up of equity financing cost of US$60.9 million and GNPC’s share of the net-carried and participating interest of US$37.5 million.

An amount of US$76.8 million was transferred into the Ghana Petroleum Funds (GPFs), out of which the Ghana Heritage Fund (GHF) received US$23.0 million while the Ghana Stabilisation Fund (GSF) received US$53.7 million.

The Annual Budget Funding Amount (ABFA) account received a total of US$155.2 million, out of which US$21.7 million was allocated to the Ghana Infrastructure Investment Fund (GIIF), leaving a net ABFA of US$133.5 million to fund projects in specified priority sectors of the economy.