Ghana’s Oil Windfall: $840m revenue in first six months of 2024
Ghana’s crude oil revenue experienced a substantial increase in the first half of the year, showing a 55.6% rise compared to the same period last year, according to the Public Interest and Accountability Committee (PIAC). In its semi-annual report, PIAC attributes this growth to higher production volumes, especially from the newly operational Jubilee South East well. As a result, oil production saw a 10% year-on-year increase, with revenues reaching $840.7 million—up from $540 million in the first half of the previous year. Despite the positive revenue growth, the report also underscores a persistent challenge: outstanding surface rental arrears, which remain...
