Audio By Carbonatix
The country’s savings from oil revenues have reached 140 million dollars for the first half of this year. According to the semi-annual report released by the Bank of Ghana, about 42.1 million dollars has accumulated in the heritage fund which is meant for future generations.
The stabilization fund which is meant to cushion the country in times of price volatility has realized nearly 99 million dollars.
The report also indicated that the heritage fund recorded a return on investment of 0.29 percent, Whiles the stabilization fund returned 0.18 percent. Contributions to both funds are made from crude oil sales from the jubilee fields as well as surface rental and royalties earned.
Between January and June this year, 3 billion barrels of crude valued at 326 million dollars were lifted from the jubilee field by the Ghana National Petroleum Corporation.
Both the Heritage and Stability funds are currently held in an account at the Europe’s largest provider of Securities settlement services Euroclear Bank.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
NPP must focus on grassroots rebuilding ahead of primaries – Gyampo
10 minutes -
Ghana to enforce licensing for cybersecurity providers from January 31
49 minutes -
GFA launches maiden FIFA U15 Girls Regional Colts Leagues
1 hour -
Father jailed 10 years for defilement and incest
2 hours -
Gov’t increases quarterly adjudication allowance for chiefs from GH¢30,000 to GH¢50,000
2 hours -
Livestream: Newsfile discusses transport fares & fuel prices, NPP primaries, Ofori-Atta & Sedina saga
3 hours -
Three suspects, including a well-known drug dealer, arrested in Tamale-Yendi by police
3 hours -
China no longer Pentagon’s top security priority
3 hours -
TikTok US venture to collect precise user location data
4 hours -
High Court injunction seeks to cripple Ghana Law Society over illegal licensing claims
4 hours -
CSA cracks down on unlicensed cybersecurity providers; Sanctions begin Jan 31
4 hours -
Dr. Nyaho-Tamakloe blasts NPP’s top-down rebuilding strategy
4 hours -
UniMAC mourns student killed in hit-and-run near South Legon campus
5 hours -
Single company contracted by DVLA to produce number plates joins suit blocking introduction of new number plates as defendant
5 hours -
Access Bank and IFC seal $134 million cocoa sector risk-sharing deal
5 hours
