PIAC Intensifies Pressure on GNPC's Explorco Over $561m Oil Revenue

The Public Interest and Accountability Committee (PIAC) is putting pressure on Ghana National Petroleum Corporation's (GNPC) subsidiary, Explorco, to account for $561 million in petroleum revenues and deposit the funds into the Petroleum Holding Fund (PHF). This amount includes $488.79 million in cumulative untransferred revenue held by Explorco and Jubilee Oil Holdings Limited (JOHL) as of 2024, plus additional amounts PIAC argues that proceeds from Explorco's liftings constitute indirect stat…