2016 GHEITI OIL AND GAS REPORT
The Ghana Extractive Industries Transparency Initiative (GHEITI) engaged Messrs Boas & Associates to reconcile the payments made by Oil and Gas Companies and receipts by the government of Ghana for 2016. Total crude oil production in 2016 was 32,297,780 bbls, compared to 37,411,661 barrels for the same period in 2015. The total value of crude oil exported was estimated at US$1,345.2 million in 2016 compared to US$1,931.3 million exported in 2015. Volume exported decreased by 19.9% to 29,769,048 barrels in 2016. The average realised price of oil also decreased by 13.0 per cent to US$45.2 per barrel.