Financial shortfalls from the impact of COVID-19 on petroleum receipts in Ghana 2020
As of April 2020, the coronavirus (COVID-19) pandemic had impacted the economy of Ghana adversely. The impact on petroleum receipts was such that there was a shortfall of nearly 1.1 billion Ghanaian cedis (GHS) (approximately 1.9 million U.S. dollars) in the Ghana Stabilization Fund. As of the same date, the Ghana Heritage Fund and transfers to the Ghana National Petroleum Corporation also suffered shortfalls amounting to 453 million GHS and 642 million GHS (roughly 78 and 110 million U.S. dollars), respectively. Overall, the total net petroleum receipts in the country stood at around 46.32 million GHS as of the third quarter of 2020 from the Sankofa, Tweneboa-Enyenra-Ntomme (TEN), and Jubilee oil fields.