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Ghana rakes in $136 million from oil lifts in second half of 2015

February 17, 2016 2:24 PM

The proceeds received from the 28, 29 and 30 lifts include 55,411,477.09 dollars, 44,788,915.12 dollars and 35,736,463.66 dollars respectively.

Ghana has accrued 135,936,855.87 dollars in revenue from crude oil lifts from the jubilee field in the second half of 2015

Proceeds of the 30 lifting on (December 8, 2015) will be received & distributed in the first half of 2016.

Meanwhile Ghana has received a total of 100,200,392.21dollars from the 28(June 30 2015) and 29 (September 9) lifts.This was contained in the Ghana Petroleum Funds Report for the Second Half-Year Ended December 31, 2015.

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Allocation to the Ghana Petroleum Funds

The report further reveals government has withdrawn 71,265,218.54 dollars from the Ghana Stabilization Fund.

This might possibly be due to the shocks the economy has received due to the consistent fall in the price of crude on the world market.

Allocations to the Ghana Heritage and Ghana Stabilization funds totalled 21,672,945.67 dollars.6,5018,83.71 dollars out of the total amount was allocated to the Ghana Heritage fund from the 28 and 29 lifts.

The Ghana Stabilization fund received 15, 171,061.96 dollars from the proceeds received from the same two lifts.