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Only $666m Out Of Targeted $1.5b Oil Revenue Realised 2020


 
The government realized $666m out of its targeted revenue of $1.5 billion from the upstream petroleum industry for the year 2020 due to the impact of COVID-19.
The drop in the targeted revenue was also attributed to the low oil prices on the international market.
The Manager, Project Evaluation at Petroleum Commission (PC), Ebenezer Harmah, disclosed this at Sekondi on Monday, at a stakeholders’ meeting with the Western Region House of Chiefs attended by the Minister of Energy, Dr Matthew Opoku Prempeh, and the Chieftaincy and Religious Affairs Minister, Mr. Kojo Kum.
Mr. Harmah explained that since the pandemic broke in the country in   2020,  there had been a  significant drop in crude oil price arising out of demand shock, increased cost of operation, impact on exploration and appraisal investments,  investment attraction, and local content development. ....

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Osisko Reports Strong First Quarter 2021 Results


4 of $5.0 million, or $0.03 per basic share
5
Sandeep Singh, President and CEO of Osisko commented on the activities of the first quarter of 2021: The first quarter saw our royalty and streaming business continue to generate record cash margins and strong operating cash flows. This bodes well as our operating assets continue to perform, ramp up and expand over the coming quarters. We were also able to, relatively cheaply, acquire medium and longer-term royalty exposure to some highly promising exploration and development properties while maintaining a disciplined approach to growth.
In Q1, we also progressed our ambition to be a leader in the Environmental, Social and Governance ( ESG ) space with the publication of our inaugural ESG report and by entering into an investment and strategic partnership with Carbon Streaming Corp. The partnership leverages our streaming expertise to fund capital projects that reduce greenhouse gas emissions. ....

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