By Benjamin Nii Nai Anyetei
Ghana’s crude oil lifting receipts fell sharply to US$198.25 million in the second half of 2025, down from US$369.25 million recorded over the same period in 2024, according to data from the Bank of Ghana’s Semi-Annual Petroleum Funds Report.
The decline has been attributed to fewer crude oil liftings as well as weaker global oil prices during the period under review.
Between July and December 2025, the Government of Ghana lifted three crude oil cargoes—two from the Jubilee Field and one from the Sankofa Gye Nyame (SGN) Field. This represents a reduction compared to the number of liftings undertaken in the corresponding period in 2024.
Receipts from the Jubilee Field amounted to US$134.55 million, while the SGN Field contributed US$63.70 million. However, proceeds from a TEN Field cargo valued at US$60.79 million, which was expected in November 2025, were not received by the end of the year and were therefore excluded from the 2025 crude oil receipts.
The report also highlighted a downturn in international oil prices as a key factor affecting revenue. Brent crude prices declined from US$66.61 per barrel at the end of June 2025 to US$60.81 per barrel by December, reducing earnings from each cargo lifted.
Despite the fall in crude oil receipts, total petroleum revenue distributions during the period exceeded actual receipts, supported by accumulated balances from earlier periods.
The Bank of Ghana cautioned that continued volatility in global oil markets could further impact Ghana’s petroleum revenue performance in the near term, underscoring the economy’s exposure to external price shocks.
