Ghana’s petroleum revenue slid sharply to **US$399.65 million** in the second half of 2025, according to the latest **Bank of Ghana (BoG) Petroleum Holding Fund report**, marking a significant decline from the same period in 2024 and underscoring mounting challenges in the country’s oil sector. For detailed analysis and implications for the economy, visit GhanaMedia.net.
Significant Decline in Oil Receipts
Data released by the BoG shows that total receipts into the Petroleum Holding Fund (PHF) for July to December 2025 amounted to US$399.65 million, down sharply from the **US$517.03 million** recorded for the second half of 2024 — a decline driven by lower proceeds from crude oil liftings and related taxes. The drop reflects broader struggles in production volumes and global price pressures. (MyJoyOnline)
Ghana oil platform with chart showing decline in revenue in 2025.
Components of Petroleum Revenue
According to the BoG report, proceeds from crude oil liftings — including cargoes from the Jubilee and Sankofa Gye Nyame fields — dropped to US$198.25 million, while corporate income taxes and interest earnings contributed approximately US$201.40 million combined. Despite the overall decline, the total amount distributed from the Petroleum Holding Fund reached US$493.40 million, supported by accumulated balances and other income streams. (GhanaWeb)
Broader Petroleum Revenue Downturn in 2025
Overall petroleum receipts for 2025 dropped sharply to approximately US$769 million, down from more than US$1.35 billion in 2024, highlighting a year-on-year contraction across the sector. Finance and energy analysts warn that continued declines in crude oil production, paired with volatility in global oil markets, could constrain government revenue streams and fiscal planning if structural reforms are not implemented. (MyJoyOnline)
Calls for Policy Action and Sector Reform
Energy analysts and oversight bodies such as the Public Interest and Accountability Committee (PIAC) have called for an urgent reset of upstream petroleum policy and renewed investment to halt falling production, boost output, and strengthen investor confidence. Without decisive action, they caution, Ghana’s oil sector could continue to underperform and diminish its contribution to economic growth and national budgets. (Kumasi.City)
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