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 (BoG).
The decline, captured in the BoG’s Semi-Annual Petroleum Funds Report, is attributed to fewer crude oil liftings and weaker global oil prices during the period under review.
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. This represented 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. A crude oil cargo from the Tweneboa Enyenra Ntomme (TEN) Field, valued at US$60.79 million and expected in November 2025, was not received before the close of the year and was therefore excluded from the 2025 figures.
The report also highlighted declining international oil prices as a significant factor behind the reduced earnings. Brent crude prices fell from US$66.61 per barrel at the end of June 2025 to US$60.81 per barrel by December, lowering revenue per cargo lifted.
Despite the drop in crude oil receipts, total petroleum revenue distributions during the period exceeded actual receipts, supported by accumulated balances from previous periods.
The Bank of Ghana cautioned that continued volatility in global oil markets could pose further risks to Ghana’s petroleum revenue performance in the near term.
