• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

$433m revenue accrued to Petroleum Holding Fund in H2 2021 – BoG report

4 years ago
in Energy, highlights, Home, home-news, latest News, Uncategorized
2 min read
0 0
0
Oil production in Ghana

Oil production in Ghana

150
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

$433m revenue accrued to Petroleum Holding Fund in H2 2021 – BoG report

Total petroleum revenue received by the Petroleum Holding Fund (PHF) for the second half of 2021 amounted to $433 million.

In a semi-annual report on Ghana’s Petroleum Funds (GPF) prepared by the Central Bank for 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.

According to the Bank, the PHF received a total amount of $285.92 million from lifting proceeds in H2 2021 compared to receipts of $235.28 million in H2, 2020

“The total receipts from the 19th lifting of TEN field was US$70.49 million compared to US$74.92 million received in H2 2020 (16th and 17th lifting), whilst receipts from (61st and 62nd liftings) Jubilee was US$138.01 million compared to US$118.85 million received in H2 2020 (55th, 56th and 57th liftings). The 8th and Over lift from SGN field was US$77.42 million in comparison to H2 2020 (5th and 6th lifting) amount of US$67.24 million,” reported the BoG.

“During the period under review, a total amount of US$147.09 million was received as other income for surface rental, corporation income tax and PHF interest. The amounts received comprise US$0.129 million for surface rental, US$146.93 million for corporation income tax and US$0.0029 million for PHF interest,” it added.

With a balance of $493.47 million – the PHF at the end of H1 2021 held a balance of $60.66 million – some $478.35 million was distributed from the PHF to the GNPC, ABFA, Ghana Heritage Fund [GHF] and Ghana Stabilization Fund [GSF].

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

Read: World Bank highlights three things gov’t has done right amid pandemic

“GNPC received an amount of US$129.99 million for CAPI and EFC in H2 2021 compared to US$118.24 million in H2 2020. Total amount received by ABFA for H2 2021 was US$197.62 million compared to US$103.87 in H2 2020. The Ghana Stabilisation Fund and the Ghana Heritage Fund received US$105.52 million and US$45.22 million respectively in H2 2021 compared to US$65.77 million and US$28.19 million respectively received in H2 2020,” the report stated.

At the end of H2 2021, the PHF, the Bank further notes, held a balance of $15.32 million which comprised a mandatory balance of $0.20 million, PHF overnight interest of $0.0072 million and corporate income tax of $15.11 million.

Allocation of funds since April 2011 to December 31 2021

Since April 2011 to December 31 2021, the ABFA has received a total of US$2,899.66 million representing 40% of the total revenue while GNPC has received a total amount of US$2,232.15 million equivalent to 30% of total revenue. GSF and GHF have each received an amount of US$1,546.45 million (21%) and US$653.68 million (9%) respectively.

Total lifting proceeds and other income distributed to ABFA, GNPC, GSF and GHF from inception to the end of December 2021 amounted to US$7,332.14 million.

Source: norvanreports
Tags: Bank of Ghana (BoG)ghanaGSFPetroleum Holding Fund (PHF)PHF
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.