- March 13, 2021
- Posted by: Ato
- Categories: Economics, Energy
Osei Kyei-Mensah-Bonsu, Majority leader in Parliament, has said that total crude oil production for the 2020 fiscal year was 66.9 million barrels as compared to 71.4 million barrels of production in 2019.
He said the National Petroleum Corporation was able to transport over 88.4 standards cubic fit of gas to the Ghana National Gas company (GNPC). He said this while presenting the 2021 budget statement in parliament.
“Mr Speaker, total crude oil production for 2020 was 66.9million barrels as compare to 71.4million barrels of production in 2019. As of December 2020, the Ghana National Petroleum Corporation has lifted 12 parcels of crude oil on behalf of the state and transported 88.4 standards cubic fit of gas to the Ghana National Gas company (GNPC). Total petroleum recedes as proceeds from lifting as of 2020 amounted to $ 666.4 million equivalent to 3.8 billion Ghana Cedis compared to the recedes of $937.6 million equivalent to 4.9 billion Ghana Cedis in the same period for 2019,” he said.
He noted that the recedes were allocated based on the vision of the Petroleum management act all in the bid to foster development in the sector.