ABSTRACT
This chapter examines the issues relating to revenue management in the oil and gas (O&G) sector. First, the need for a good governance system is emphasized. This is followed by the argument for an oil-producing country to take such a system seriously because of the potentially significant impact that petroleum revenues can have on its economy. Also addressed are the challenges faced by oil-producing nations and steps taken by some host countries to ensure that proceeds are protected and/or invested for optimal benefits. Next, principles of petroleum revenue management are presented, followed by the concept of petroleum revenue funds for social needs. Finally, a proposal is made for the development of a Ghanaian revenue management approach given the context in which the country currently finds itself.
