Ghana recorded a significant decline in its petroleum receipts for the second half of 2025, with total revenue dropping by approximately $117.38 million compared to the same period in 2024.
The Bank of Ghana’s Petroleum Holding Fund (PHF) Semi-Annual Report for July to December 2025 says total receipts amounted to $399.65 million.
“This represents a 22.7 per cent decrease from the $517.03 million generated during the second half of 2024,” it said.
“The dip is primarily attributed to a sharp drop in proceeds from crude oil liftings.”
Revenue from liftings fell from $369.25 million in 2024 to $198.25 million in the period under review, a decline of 46 per cent.
The report identified only three major liftings for the second half of 2025, notably the 18th lifting from the Sankofa Gye Nyame (SGN) field, and the 83rd and 84th liftings from the Jubilee field.
This is a reduction in the volume of oil parcels exported compared to the previous year.
Despite the drop in lifting proceeds, corporate income taxes from the petroleum sector saw a robust increase.
Taxes paid by oil-producing companies, including Kosmos Energy, Tullow Ghana, and ENI, rose to $198.09 million, up from approximately $144 million in the corresponding period of 2024.
Other income sources, including interest earned on the Petroleum Holding Fund, contributed $3.31 million to the state.
Sector analysts attribute the general decline in output to natural field depletion and technical challenges in the upstream sector.
The Public Interest and Accountability Committee (PIAC) has previously warned that without significant new investments and the drilling of new wells, the country’s oil revenue could face a sustained downward trend.
Of the total $399.65 million received, the government distributed the funds in accordance with the Petroleum Revenue Management Act, the report said.
GNA