Performance Review of Petroleum Revenue Management in Ghana: A SWOT Analysis after a Decade of Production
Article from: OGEL 3 (2021), in Economic and Commercial Context for Oil, Gas and Energy Law
The commencement of commercial oil and gas production and receipt of petroleum revenues in 2010 led to the passing of the Petroleum Revenue Management Act (PRMA) 815 and 893 in 2011 and 2015 respectively. A critical review of the PRMA 815 and 893 using desktop review and SWOT analysis as study methods, reveals several weaknesses, including, lack of fiscal discipline, revenue volatility and discretionary powers on revenue utilization. Also, there is a weak linkage between petroleum revenue utilization and other sectors of the economy. However, the PMRA comes with its own ...