GNPC receives US$269.76m in crude oil proceeds, down 13.42% from 2022
Ghana's state-owned oil company, GNPC, received $269.76m in crude oil proceeds in 2023, a 13.42% decline from the previous year. While the company's efforts to recover longstanding debts from BOST are commendable, concerns persist about high development and production costs in the TEN field. The breakdown of receipts reveals a significant disparity between Level A and Level B, with the former receiving $148.63m and the latter receiving $121.13m. This raises questions about the allocation of resources and the efficiency of GNPC's operations. Furthermore, the outstanding debt of $5m from ECG-BG Related Charges, which has been pending since 2015, is a...
