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13.3million barrels of oil worth $827m missing

A scandal is emerging in Ghana’s upstream petroleum sector as a whopping 13.3 million barrels of oil worth US$827 million from the Jubilee, TEN and Sankofa fields cannot be accounted for by authorities.

Careful scrutiny and analysis of Petroleum Receipts and Distribution Reports released quarterly by the Ministry of Finance from 2011-2017 reveal a cumulative figure of 239,738,762 barrels of oil being total production for the period.

In a shocking counter to the Ministry of Finance’s figures, the Public Interest and Accountability Committee (PIAC) on 8th August, 2018 released a cumulative figure of 253,085,873 barrels of oil as total production for the same period of 2011-2017.

From the figures released by the two legal authorities expected to provide Ghanaians with accurate numbers in the upstream petroleum sector, a shortfall discrepancy of 13,347,111 barrels of oil is begging for answers.
For well over nine months now, the Ministry of Finance and the PIAC have not told Ghanaians the whereabouts of the 13.3 million barrels of oil worth over US$800 million

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Written by Francis Brownson

I'm just a simple but honest young man who likes to have fun.

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