The Public Interest and Accountability Committee (PIAC) has called for a review of the Ghana National Petroleum Corporation Act, 1983.
PIAC explains that a review of the Act will better define the mandate of the Ghana National Petroleum Commission (GNPC).
Making recommendations in their Semi-Annual Report on the management of petroleum revenues for the first half of 2019, the Committee stated that some functions performed by GNPC in the past, like data respiratory and providing technical advice to the minister, have now been assigned to the Petroleum Commission, hence the need to review the Act.
The report also revealed that average daily production and field input were affected because of a 14-day shut-down period set for maintenance work and inspections.
PIAC also urged the GNPC to proactively plan to respond to cash calls when they are made in order to avoid the cost of borrowing.
The Semi-Annual Report was published on Wednesday, October 30 in fulfilment of Section 56 of the Petroleum Revenue Management Act (PRMA), 2011 (Act 815).
Although it was released later than the expected date, the committee explains that the delay was due to the Finance Ministry’s failure to respond to the committee’s request for data on time.
Below is the full report.
Latest Stories
-
Tunisian coast guard retrieves bodies of 19 migrants
38 seconds -
Bahamas 2024: Paul Amoah, Azamati lead Ghana quartet for World Relays
4 mins -
Miss Akwaaba 2024 set to pick contestants
5 mins -
Sixteen dead, 28 missing after boat capsizes off Djibouti coast – UN agency
7 mins -
Naana Opoku-Agyeman embodies authority and authenticity – Joyce Bawah insists
13 mins -
Chinese supermarket in Abuja shut for allegedly barring Nigerians
17 mins -
Oscar rules updated for 2025 awards
22 mins -
Ashanti Region ECG Workers Union ban 4 general managers from attending REGSEC meetings
22 mins -
Minority wades into renaming of Ho Technical University after Ephraim Amu
37 mins -
Accra Lions youngster Emmanuel Dzigbah receives meniscus treatment in Serbia
40 mins -
My over $8000 oxygen machine blew up due to dumsor – Joy FM listener narrates harrowing ordeal
52 mins -
Four more persons remanded over Tema-Mpakadan train accident
59 mins -
Bobrisky appeals against six-month sentence
1 hour -
Ashanti West ECG uncovers 74 illegal connections
1 hour -
Assenso-Boakye’s comment that development is dependent on partisan politics worrying – CDD Ghana Fellow
2 hours