From Ghana Business

Ghana earned a total of $846,767, 184 million from petroleum export for 2013.

This brings the cumulative earnings of the country from the petroleum export since 2011 to 1.833 billion dollars.

Ghana’s earnings from the petroleum export is shared between the Ghana National Petroleum Corporation and the Ghana Petroleum Fund, while and the rest is used to support the budget.

The amount used to support the budget is used to support agricultural modernization, roads and infrastructure development, payment of loans and interest on loans contracted for the energy sector, and capacity-building for the energy sector.

These disclosures were made by Major Ablor Quarcoo, Chairman of the Public Interest and Accountability Committee (PIAC), at the comiittee’s public meeting on the management of the petroleum revenue of the country in Koforidua.

The meeting, the fifth regional meeting of the committee, was to inform the people in the Eastern Region about the amount that the country earned from its petroleum exploitation, and how it was used.

The committee is made of nominees of 13 professional associations and independent institutions, including the Ghana Journalists Association, the Trade Union Congress, Institute of Charted Accountants, Ghana Bar Association, National House of Chiefs, Ghana Queen mother Association, the Christian Groups, the Moslem Group and others established by law to monitor the use of the petroleum revenue of the country by the government on behalf of the people of Ghana.

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