Tag: Petroleum Holding Fund
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Petroleum Holding Fund for 2020 Q1 drops by $124m as against 2019 Q1
A new report by the Bank of Ghana shows that the country received a total of 310.14 million dollars into Ghana’s Petroleum Holding Fund (PHF) for the first half of 2020. Compared to same period in 2019, the figure dropped by $124. 34 million dollars as the figure for last year was $434.48 million dollars.…
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Corporate taxes from oil producers slump in 2nd half of 2019
Corporate taxes due to the government from oil producing companies, dropped by 42 percent for the second half of 2019, compared to the first half of the same year. According to the Petroleum Funds report released by the Bank of Ghana, the state recorded 51 million dollars less in corporate taxes between July and December,…
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Local suppliers in oil and gas industry awarded US$453m worth of contracts in 2018
Indigenous Ghanaian companies operating in the oil and gas sector received more than US$450 million worth of contracts for the supply of goods and services in 2018. According to a report prepared by the Finance Committee of Parliament, the Ghanaian participation in the upstream petroleum industry was on the increase in the period under review.…