- Ghana’s crude oil lifting receipts declined sharply to US$198.25 million in the second half of 2025
- This compares with US$369.25 million recorded during the same period in 2024
- A TEN field cargo valued at US$60.79 million expected in November 2025 was not received before year-end and was excluded from the figures
Ghana recorded a significant decline in crude oil lifting receipts in the second half of 2025, with earnings falling to US$198.25 million, down from US$369.25 million over the same period in 2024. According to the Bank of Ghana’s Semi-Annual Petroleum Funds Report, the drop was driven by fewer crude oil liftings and weaker global oil prices.
Between July and December 2025, the government lifted three crude oil cargoes—two from the Jubilee field and one from the Sankofa Gye Nyame (SGN) field—representing a reduction compared to the number of liftings recorded during the corresponding period last year.
Revenue from the Jubilee field amounted to US$134.55 million, while the SGN field generated US$63.70 million. A cargo from the TEN field, valued at US$60.79 million and scheduled for lifting in November 2025, was not received before the close of the year and was therefore excluded from the 2025 figures.
The report also identified declining international oil prices as a major contributing factor. Brent crude prices fell from US$66.61 per barrel at the end of June 2025 to US$60.81 per barrel by December, reducing revenue per cargo lifted.
Despite the drop in crude oil receipts, total petroleum revenue distributions exceeded inflows, supported by accumulated balances from previous periods.
The Bank of Ghana cautioned that ongoing volatility in global oil markets could further impact Ghana’s petroleum revenue performance in the near term.
