• 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

Oil Revenue: Interest returns on Ghana Heritage Fund fall by 7.45%

3 years ago
in Business, Economy, Editor's pick, Energy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
137
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Oil Revenue: Interest returns on Ghana Heritage Fund fall by 7.45%

Returns of oil revenue allocated to the Ghana Heritage Fund (GHF) declined by 745 basis points (7.45%) in the first half of 2022.

This is per data released by the Central Bank on the country’s  oil revenue performance within the first half of 2022,

Despite the significant decline in returns on the GHF, some $6.36m in interest income or returns was realised from the Fund.

This compares to the $8.64m interest returns on the GHF recorded same period last year – H1 2021.

For the, Ghana Stabilisation Fund (GSF), interest returns also declined marginally by 0.43% within the review period.

Realised income from the GSF was $0.77m. Total interest returns on both the GHF and GSF was $7.13m.

RelatedPosts

Gold Price Surpasses $4,000 for First Time

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

“In H1 2022, the Ghana Petroleum Funds returned a net realised income of US$7.13 million compared to US$8.74 million in H1 2021. The Ghana Stabilisation Fund contributed 10.77% or US$0.77 million to total net income compared to US$0.10 million in H1 2021 whilst GHF contributed 89.23% or US$6.36 million compared to US$8.64 million in H1 2021.

“The GPFs reserves at the end of H1 2022 was US$1,223.70 million (GHF was US$849.91 million and GSF was US$373.79 million) compared to US$815.29 million in H1 2021 (GHF was US$676.45 million and GSF was US$138.84 million),” noted the Central Bank.

Ghana earns $731.9m in crude oil receipts for H1 2022

Meanwhile, Ghana earned $731.9 million from crude oil receipts in the first half of this year, the Ghana Petroleum Funds report has revealed.

Out of it, $544.61 million was realised from crude oil liftings in the first five months of 2022.

$186.3 million was however secured from corporate tax paid by the oil producing companies including Tullow, Kosmos and Petro Sa.

$992.3 million was obtained from surface rental and interest from the Petroleum Holding Fund.

For the crude oil liftings, $108.8 million and $104.1 million which were the biggest earnings were secured from liftings on March 6th, 2022 (Ninth SGN) and March 26th, 2022 (sixty-fifth Jubilee) respectively.

With regard to surface rental, AGM Petroleum Gh paid the highest tax of $174,100, followed by Aker with $150,750.

Tags: ghanaGHFGSFOil Revenue: Interest returns on Ghana Heritage Fund fall by 7.45%
No Result
View All Result

Highlights

England, Portugal, and Norway Poised for 2026 World Cup Qualification

Spending Smarter to Boost Growth

Asante Gold Reports Strong Exploration Results at Bibiani and Chirano Mines

Economic Uncertainty Can Test the Resilience of the Foreign Exchange Market

Inflation to Remain Within 8+/-2 Target Band by End-Q4, Says BoG Governor

BoG to Begin $1.1bn FX Intermediation Under Domestic Gold Purchase Programme this October

Trending

Business

Gold Price Surpasses $4,000 for First Time

October 8, 2025

Gold Price Surpasses $4,000 for First Time Gold advanced to a new record on Tuesday, with futures...

“We Want to Win This Game”- Otto Addo’s Black Stars Aim for World Cup Qualification Against Central African Republic

October 8, 2025

President Kurt Edwin Simeon-Okraku appointed Chairperson of FIFA Anti-Racism and Anti-Discrimination Committee

October 8, 2025

England, Portugal, and Norway Poised for 2026 World Cup Qualification

October 8, 2025

Spending Smarter to Boost Growth

October 8, 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.