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Ghana’s crude oil lifting receipts declined 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 drop, detailed in the BoG’s Semi-Annual Petroleum Funds Report, was attributed to fewer crude oil liftings and lower 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 represents a reduction compared to the number of liftings undertaken during the corresponding period in 2024.
Receipts from the Jubilee field amounted to US$134.55 million, while the SGN field generated US$63.70 million. A cargo from the Tweneboa-Enyenra-Ntomme (TEN) field, valued at US$60.79 million and scheduled for lifting in November 2025, was not received before year-end and was therefore excluded from the 2025 receipts.
The report further highlighted declining international oil prices as a significant 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 earnings per cargo lifted.
Despite the decline in crude oil lifting receipts, total petroleum revenue distributions during the period exceeded receipts, supported by accumulated funds from previous 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.
Source: citinews
