{"id":41409,"date":"2023-05-01T11:24:53","date_gmt":"2023-05-01T11:24:53","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=41409"},"modified":"2023-05-01T11:45:17","modified_gmt":"2023-05-01T11:45:17","slug":"government-urged-to-speed-up-development-of-petroleum-resources","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources","title":{"rendered":"Government urged to speed up development of petroleum resources"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Public Interest and Accountability Committee (PIAC) has entreated the Government to speed up the sustainable development of petroleum resources to reverse the decline in the production of petroleum products.<\/b><\/p>\n

Mr Nasir Alpha Mohammed, the Vice Chairman of PIAC, said the Government should put in place the necessary measures to attract new investors into the sector and ensure the early completion of ongoing projects.<\/p>\n

Petroleum production in Ghana had been on the decline over the past few years, he said, hence the need for massive investment to discover additional oilfields.<\/p>\n

Mr Mohammed said this at a forum organised by PIAC in Wa for stakeholders in the Upper West Region to make inputs into the management and utilisation of petroleum revenues in the country.<\/p>\n

Heads of department and agencies, the security services, representatives of political parties, district chief executives, civil society organisations, traditional leaders, among others, participated.<\/p>\n

In a presentation on the petroleum revenue management and utilisation for 2022, Mr Mohammed said out of a total of $1,428,760,076.93 revenues realised in 2022, GH\u023b33,750,184.39 went to the Ghana National Petroleum Corporation.<\/p>\n

GH\u023b526,308,309.00 went into the Annual Budget Funding Amount to support government\u2019s projects in the communities.<\/p>\n

An excess of GH\u023b407 million also went to the Ghana Stablisation Fund as a reserve for the Government to support the economy in times of unanticipated petroleum revenue shortfalls and fiscal imbalances.<\/p>\n

\u201cSuccessive governments have dipped their hands into this fund (Ghana Stablisation Fund) such that when COVID-19 hit us, we were running outside looking for money when we could have relied on this particular fund,\u201d he said.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The Public Interest and Accountability Committee (PIAC) has entreated the Government to speed up the sustainable development of petroleum resources to reverse the decline in the production of petroleum products. Mr Nasir Alpha Mohammed, the Vice Chairman of PIAC, said the Government should put in place the necessary measures to attract new […]<\/p>\n","protected":false},"author":84,"featured_media":41408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-41409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nGovernment urged to speed up development of petroleum resources - Ghana<\/title>\n<meta name=\"description\" content=\"The Public Interest and Accountability Committee (PIAC) has entreated the Government to speed up the sustainable deve ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government urged to speed up development of petroleum resources\" \/>\n<meta property=\"og:description\" content=\"The Public Interest and Accountability Committee (PIAC) has entreated the Government to speed up the sustainable deve ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-01T11:24:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-01T11:45:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/05\/postQueueImg_1682923837.62.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"810\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government urged to speed up development of petroleum resources\",\"datePublished\":\"2023-05-01T11:24:53+00:00\",\"dateModified\":\"2023-05-01T11:45:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources\"},\"wordCount\":281,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/05\/postQueueImg_1682923837.62.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-urged-to-speed-up-development-of-petroleum-resources\",\"name\":\"Government urged to speed up development of petroleum resources - 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