Sentences with phrase «oil revenue funded»

They also have to intensify their monitoring and supervision of all oil revenue funded projects spread across the country.

The team has so far visited oil revenue funded projects such as the Zakpalsi irrigation project in the Northern Region, and the Tankasi and Zuiding irrigation projects in the Upper East Region.

Not exact matches

Tumbling oil prices spell bad news, both for overall growth and the financial position of the government, which is reliant on tax revenues from its energy industry to fund the budget.

Cuts to the highest per - capita spending in Canada will doubtless be part of the budget Premier Alison Redford unveils on March 7, but a shortfall on the revenue side, namely oil and gas royalties, has prominent Albertans calling for a more stable source of funding: a provincial sales tax.

It's widely believed that ISIS is funded in large part by oil revenue.

At least one congressional proposal, in fact, would have channelled the resulting revenue into a highway trust rather than the oil spill liability fund.

Evan Solomon: The government of Alberta, they point to these statistics: the oil sands creates $ 307 billion in tax revenue, $ 187 billion for the federal government, 23 % of employment is from oil sands, 7 % of employment in Canada from the oil sands and in Ontario alone, 7 %, they say, of employment comes from the oil sands and they say royalties of $ 1.9 billion fund programs across the country.

The first — the Alberta Heritage Savings Trust Fund — was established over 30 years ago to save about 30 per cent of oil and gas revenues for the province's long - term future.

The drop in the international price of oil exposed a large cleavage in the government's finances as past governments became too comfortable and over reliant on these unstable resource revenues to fund the province's operations budget.

Of this $ 8.3 billion $ 1.3 billion are offshore oil and natural resource royalties which are transferred to the Newfoundland Offshore Petroleum Resources Revenues Fund and the Nova Scotia Offshore Revenues Account under federal agreement.

Alberta has a revenue problem and if we should have learned anything since the international price of oil collapsed in 2014, it is that we should not depend on royalty revenues from oil and gas to fund the day to day operations of our public services.

The minister heads the state oil company PDVSA, which is in desperate need of a hike in fuel revenues and favorable financial ratings to fund imports of consumer goods and medical supplies for its citizens and to keep the socialist government's public services afloat.

Wren - Lewis warns that independence would involve high set - up costs which would need to be funded in large part by an extremely volatile and diminishing source of revenue (oil).

For instance, this year's benchmark for the federal budget is $ 42 but oil now goes for over $ 70 per barrel and instead of paying all the revenues to the Federation Account, the FG still operates an Excess Crude Oil Account contrary to the judgment of the Supreme Court and they spend such funds without recourse to appropriate authorities,» he saoil now goes for over $ 70 per barrel and instead of paying all the revenues to the Federation Account, the FG still operates an Excess Crude Oil Account contrary to the judgment of the Supreme Court and they spend such funds without recourse to appropriate authorities,» he saOil Account contrary to the judgment of the Supreme Court and they spend such funds without recourse to appropriate authorities,» he said.

An independent Scotland would face the choice of cutting those services, or raising other taxes to higher than UK levels, so as to be able to put the oil revenue into a long - term savings fund, or spending it to support services now, and face that choice later when the oil runs out, but with no cushion of money in the bank.

While the UK has arguably missed its chance to establish a resource - based citizen's fund — as might have been built up from North Sea oil and gas revenues — there is still much the UK can learn from Alaska's hybrid fund - and - dividend approach.

LAGOS — As the pressure on federal revenue mounts following steady decline in oil revenue, the Federal Government would be resorting to a Sukuk Bond for funding the widening budget deficit.

President Nana Addo Dankwa Akufo - Addo says the use of some of the country's oil revenues to fund the Free Senior High School policy, which is guaranteeing all Ghanaian school - going school access to senior high school education, is most appropriate.

General News of Saturday, 12 May 2018 Source: Starrfmonline.com President Akufo - Addo President Nana Addo Dankwa Akufo - Addo says the use of some of the country's oil revenues to fund...

Speaking to Citi News on the sidelines of a sensitization programme on the use of oil revenue at the Tamale Technical University, Miss Abubakari advised government to limit their expenditure to a few targeted projects in order to ensure better monitoring and utilization of the oil funds.

It said that wealth could allow an independent Scotland to save excess oil tax revenues in a sovereign wealth fund.

The Islamic State (IS) is largely funded, it is often said, by oil revenues.

He said the «core question» that would dictate whether a separate Scotland would be better or worse off is «very simple» — whether oil revenues would compensate for the loss of extra funding allocated under the Barnett formula and UK spending on Scots» pensions.

The former Minister indicated that the current projection on oil revenue do not look promising to reach a double of what accrued in previous years, hence will definitely not be sufficient to fund Free SHS.

President Nana Addo Dankwa Akufo - Addo has stated that Ghana's oil revenue will be used to fund the Free Senior High School (SHS) program when it takes off next academic year.

He wondered how the President could use oil proceeds to fund the programme without recourse to the law, saying «the disbursement of oil revenue is regulated by law; the Petroleum Revenue Management Act&revenue is regulated by law; the Petroleum Revenue Management Act&Revenue Management Act».

«ACEP recommends that the government should pass the promised Mineral Revenue Management Act to create additional sources of funds from solid minerals to finance the free SHS policy,» the policy think tank stated in a 10 - page document analyzing the 2018 budget with regards to oil and gas,» the think - tank said.

Mr. Kwakye - Ofosu who served under the John Mahama government said even if government decides to use all the revenue accruing from Ghana's oil, it will not be enough to fund even the first year of free SHS considering.

The law requires that 70 % of oil revenue goes into funding the country's annual budget, hence can not all be dedicated to one item as the president seeks to do.

«We are using some of the income from our oil revenue to fund the programme.

President Nana Akufo - Addo last Friday said it is most appropriate to use a part of the country's oil revenue to fund the policy, which was rolled out last September to offer free education to persons who qualify into public senior high schools.

«I have a very strong belief that we should use those resources [oil revenue] to fund agriculture so your special Agric fund, that is where I am looking to and I want you to help me to direct this to Mr. President,» Dr. Afriyie Akoto said to the farmers.

He identified the slump in the international oil market price and oil theft in the Niger Delta as main reasons for projecting more revenues to fund the budget from the non-oil sector.

Senior Minister, Yaw Osafo Maafo on Tuesday [14th February] told the media that government will get the necessary legislation to enable it use the Heritage Fund which is 9 percent of the revenue accrued to Ghana from its crude oil proceeds to finance the president's Free Senior High School policy.

This is because the Nana Addo administration has said revenue from oil and gas, as well as earnings from other mineral resources, will go into funding the policy, which is expected to eat up some 400 million Ghana cedis in its first year of implementation.

She said mid last week that in the face of dwindling oil revenues the Federal Government has borrowed N473billion to pay salaries and fund the 2015 budget.

He, however, declared the payment of $ 1.092 billion in the Malabu oil deal into an escrow account at JP Morgan, London, by the former ministers as fraudulent, stressing that the money should have been paid into the Federation Account or the Consolidated Revenue Fund.

She emphasized the state's renewable energy projects, include many funded by state revenues from oil production.

The new wrinkle is the administration's heavy reliance on what is called mandatory spending, which would fund a specific program using revenue generated by the sale of a government asset, such as oil in the strategic petroleum reserve, or a particular tax or license fee.

$ 7 billion a year for smart growth funding, plug - in hybrids, natural gas vehicles, raise fuel economy standards; offshore drilling with revenue sharing and oil spill veto, natural gas fracking disclosure

The proposal includes significant «mandatory spending, which would fund a specific program using revenue generated by the sale of a government asset, such as oil in the strategic petroleum reserve, or a particular tax or license fee,» Mervis continued.

$ 8 billion) over first ten years for deficit reductionObeys PAYGO; Starting in 2026, 25 % of auction revenues for deficit reductionFuels and TransportationIncrease biofuels to 60 million gallons by 2030, low - carbon fuel standard of 10 % by 2010, 1 million plug» in hybrid cars by 2025, raise fuel economy standards, smart growth funding, end oil subsidies, promote natural gas drilling, enhanced oil recoverySmart growth funding, plug - in hybrids, raise fuel economy standards $ 7 billion a year for smart growth funding, plug - in hybrids, natural gas vehicles, raise fuel economy standards; offshore drilling with revenue sharing and oil spill veto, natural gas fracking disclosureCost ContainmentInternational offsetsOffset pool, banking and borrowing flexibility, soft price collar using permit reserve auction at $ 28 per ton going to 60 % above three - year - average market price» Hard» price collar between $ 12 and $ 25 per ton, floor increases at 3 % + CPI, ceiling at 5 % + CPI, plus permit reserve auction, offsets like W - MClean Air Act And StatesNot discussedOnly polluters above 25,000 tons of carbon dioxide equivalent a year, regional cap and trade suspended until 2017, EPA to set stationary source performance standards in 2016, some Clean Air Act provisions excludedOnly polluters above 25,000 tons of carbon dioxide equivalent a year, regional cap and trade pre-empted, establishes coal - fired plant performance standards, some Clean Air Act provisions excludedInternational CompetitivenessTax incentives for domestic auto industryFree allowances for trade - exposed industries, 2020 carbon tariff on importsCarbon tariff on importsReferences: Barack Obama, 2007; Barack Obama, 8/3/08; Pew Center, 6/26/09; leaked drafts of American Power Act, 5/11/10.

Alaska relies on revenue from oil production to fund schools, and the global drop in oil prices has led to a school - funding crisis.

According to Bloomberg, Saudi Arabia's government relies on oil for at least 80 % of its revenue and faces its biggest budget deficit in nearly 30 years (20 % of GDP, according to an estimate by the International Monetary Fund).

The Alaska Permanent Fund, funded by investments from state oil revenues, sends annual dividend checks to the state's residents.

It will promote growth and employment, offset any potential hiccups in oil / natural resource revenues and / or global growth, and the government has the robust finances and debt capacity to fund it.

This was all the brain child of the enterprising Sheickh Maktoum and his family who realised that oil reserves were one day going to run out and a new revenue stream would be needed to fund the future of Dubai.

[June 9, 2:28 a.m. Updated BP announced Tuesday night that it will create a wildlife fund with all of its net revenues from selling skimmed or salvaged oil from the gushing well (minus the royalty it pays the United States government and the portion of sales owed to others who own a portion of that lease).

BP last night resolved questions about the fate of the oil it was now salvaging in growing quantities from its gushing seabed well, announcing that it will create a wildlife fund with all of its net revenues from selling the oil it skims from the sea surface or collects through the siphon positioned over the leak.

Alaska has the Alaska Permanent Fund, which for the past 30 or so years has collected some fraction of Alaska's oil revenue and invested it in a broadly diversified portfolio and and provided, from the dividends of that portfolio, an annual income to every qualifying permanent resident of Alaska.