According to the 2022 Public Interest and Accountability Committee’s (PIAC) annual report, Ghana’s crude oil output has declined for the third consecutive year.
In 2019, 71,439,585 barrels were produced, however this fell to 66,926,806 barrels in 2020, a 6.32 percent decrease.
It subsequently fell to 55,050,391 barrels in 2021 (17.75%) and 51,756,481 barrels in 2022 (5.98%), for a total loss of 10% over the three years.
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Addressing members of the IFEJ, PIAC media, and the Parliamentary Press Corp in Keta on the 2022 PIAC annual report, PIAC Vice Chairman Nasir Alfa Mohammed stated that Ghana must accelerate the sustainable development of its petroleum resources in order to reverse the decline in petroleum production through the attraction of new investors and the completion of ongoing projects.
“For three years in a row, crude oil production has been dropping…
As a result, the average drop throughout the three-year period is 10%.
“With a value of 1.4 billion dollars, total petroleum for 2022 is the greatest since the beginning of petroleum production,” Mr. Alfa stated.
