The Petroleum Commission has cancelled four of the eighteen active Petroleum Agreements, according to the Public Interest and Accountability Committee (PIAC).
This was revealed in the PIAC 2021 non-performing annual report on petroleum income management and utilization for 2021, which was issued on Wednesday, April 13.
Since its inception in September 2011, PIAC has been in charge of overseeing and reviewing the government's and stakeholder institutions' administration and usage of Ghana's petroleum income.
Since its inception in 2011, the Committee has issued a total of 21 reports: ten semi-annual and eleven annual reports.
The Committee prepares statutory Semi-Annual and Annual Reports in accordance with the provisions of the Petroleum Revenue Management Act (PRMA), 2011, with the goal of keeping Ghanaians and other interested stakeholders informed about the management and use of the country's petroleum revenues on a regular basis.
According to a 3news story, PIAC's 2021 Annual Report will be released a month after the statutory deadline of March 15th, due to a delay in receiving data from certain of its stakeholders.
"PIAC continues to urge its stakeholders to ensure that material is submitted on time so that the Committee can fulfill its statutory deadline," the report stated.