"$1.2bn revenue accrued to Petroleum Funds in H1 2022 \u2013 BoG report"

" \n $1.2bn revenue accrued to Petroleum Funds in H1 2022 \u2013 BoG report \n \n\n \n Total petroleum revenue received by the\u00a0Ghana Petroleum Holding Fund\u00a0for the first half of 2022 amounted to $1.2 billion. \n \n\n \n In a semi-annual report on\u00a0Ghana\u2019s Petroleum Funds prepared by the\u00a0Central Bank\u00a0for the review period, total receipts comprised revenue from crude oil lifting from the three oil fields and other receipts from surface rental, corporate income tax and others. \n \n\n \n According to the Bank, the PHF received a total amount of $544 million from lifting proceeds in H1 2022 compared to receipts of $285 million in H2 2021. \n \n\n \n Proceeds from other receipts such as surface rental, corporate income tax and others amounted to $187m. \n \n\n \n Within the review period, some $117m and $273m oil revenue allocation was made to the Ghana Heritage Fund and Ghana Stabilisation Fund respectively. \n \n\n \n Per the report, interest accrued on funds allocated to the Heritage Fund and Stabilisation Fund within the first half of the year amounted to $7.1m. \n \n\n \n Cumulatively, revenue accrued from oil lifting, other receipts, the Heritage Fund and Stabilisation Fund at the end of the first half of 2022 amounted to a total of $1.2bn. \n \n\n \n On a year-on-year basis, oil revenue accrued to the Petroleum Fund marks an increase of $252m when compared to the $971m oil revenue accrued to the Fund in H1 2021.\u00a0 \n \n\n \n Peruse details of the report: \n \n\n \n <a title=\"View BOG Notice No 59 FMD Report for First Half Year Ended 30th June 2022 Crude Oil Liftings of Ghana and the Allocation to the Ghana Petroleum Funds on Scribd\" href=\"https:\/\/www.scribd.com\/document\/583520838\/BOG-Notice-No-59-FMD-Report-for-First-Half-Year-Ended-30th-June-2022-Crude-Oil-Liftings-of-Ghana-and-the-Allocation-to-the-Ghana-Petroleum-Funds#from_embed\" style=\"text-decoration: underline;\" >BOG Notice No 59 FMD Report for First Half Year Ended 30th June 2022 Crude Oil Liftings of Ghana and the Al... by Fuaad Dodoo on Scribd <iframe class=\"scribd_iframe_embed\" title=\"BOG Notice No 59 FMD Report for First Half Year Ended 30th June 2022 Crude Oil Liftings of Ghana and the Allocation to the Ghana Petroleum Funds\" src=\"https:\/\/www.scribd.com\/embeds\/583520838\/content?start_page=1&view_mode=scroll&access_key=key-brbAeJ0BOsR9csffb8Uw\" data-auto-height=\"true\" data-aspect-ratio=\"0.7729220222793488\" scrolling=\"no\" id=\"doc_13769\" width=\"100%\" height=\"600\" frameborder=\"0\"> (function() { var scribd = document.createElement(\"script\"); scribd.type = \"text\/javascript\"; scribd.async = true; scribd.src = \"https:\/\/www.scribd.com\/javascripts\/embed_code\/inject.js\"; var s = document.getElementsByTagName(\"script\")[0]; s.parentNode.insertBefore(scribd, s); })(); \n "

"$1.2bn revenue accrued to Petroleum Funds in H1 2022 \u2013 BoG report"

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