Ghana National Petroleum Corporation

Now take us through from 2020 to 2025.

Well, so you have the top five and then GNPC is leading in terms of the profitability rank.

But definitely you should say that, well, some of these, Tamahoyo Refinery, Cocoa Board, ECG, their numbers are really influenced by the exchange rate situation.

But in terms of the profitability, it is GNPC, Ghana, Port and Harbour, 1.4 billion.

That is huge.

MIF, 770 million CDs.

In other news, government is considering scaling up importation of liquefied natural gas to boost power supply.

This was revealed at the Public Accounts Committee in Parliament when the Grand National Petroleum Commission, GNPC, appeared before the committee.

Listen to the interaction between Chief Executive of the GNPC, Kwame Ntoamwa, Deputy Energy Minister Richard Jan Mensah, and Committee Chairperson Abner Sassari.

We suffered a 50% slash in the amount of money that is given, I mean, in terms of retention, and it has affected a lot of our activities.

Our minister has been leading the effort to convince the Minister of Finance to raise it from the 15% that we were getting back to the 30% to enable us to do more activities because activities are growing.

This includes a further 1.73 million owed at a terminated petroleum agreement.

In addition, the Ghana Revenue Authority, the Ghana National Petroleum Corporation, the Ministry of Energy and Green Transition and international oil companies had a year to agree on the payment of additional oil entitlement despite continued benchmark assessment.

PIAG's findings also point to the end to sustain investment in Ghana's maturing petroleum sector.

Limited new exploration and development activities makes investment in existing fields the development of discoveries and efforts to attract new upstream capital increasingly significant to maintaining production and revenue growth.

Mm-hmm

... because GNPC also has to put a stake in the project, GNPC goes to look for funding.

Yeah.

When they go outside and get funding, it's always tied to, you know, delivery of crude at the end of the day.

Exactly.

Yeah.

Because we know, we heard from GNPC that they are re- restructuring the entire, you know, lease arrangement.

Mm.

Mm.

Every time a big, big company, GNPC, GCB, they bia yɛma mu sika.

Mm.

Enti sɛɔ, there's no...

[laughs]

Nti- Yeah.

[laughs] No, that say company [laughs] ... drivers no.

We to me disassociate 'Cause I just, I just saw a, a story, uh, yesterday or so- Mm-hmm ... say, say, Oh.

And they have directors.

So the question then is, If as a result of whether negligence, whether maladministration or whatever it is, a state entity loses money, let us say whether it is GNPC, let us say it is whatever, whatever state entity.

And then the board of directors, the managing director and all the other managers Act on the basis of whatever, whether it's maladministration, whether it's a corruption practice that they want to get themselves involved in, as a result of which the state loses money to a lawyer.

Why then do you not go to the people who are supposed to protect the interests of the state? The people who are supposed to act.