Data from the Bank of Ghana shows that Ghana’s total petroleum revenue for the second half of 2025 was US$399.65 million, marking a sharp decline compared to earnings in the same period of 2024.
The Bank’s Semi-Annual Report on the Petroleum Holding Fund (PHF) indicates that this figure includes both crude oil sales and petroleum-related taxes. However, it is still lower than the US$369.25 million earned from crude oil liftings alone in the second half of 2024, highlighting a slowdown in revenue.
Crude oil liftings from the Jubilee and Sankofa Gye Nyame (SGN) fields generated US$198.25 million, from two Jubilee cargoes and one SGN cargo.
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Other sources, including corporate income taxes and interest on the PHF, contributed US$201.40 million, comprising US$198.09 million in taxes and US$3.31 million in interest income.
The report also noted that proceeds from the 25th cargo of the TEN field, valued at US$60.79 million, were not received by the end of 2025 and were therefore excluded from revenue.
Despite the lower inflows, total petroleum revenue distributed in H2 2025 reached US$493.40 million, thanks to the use of accumulated balances and other income.
The Annual Budget Funding Amount (ABFA) received the largest share at US$285.06 million to support government development projects. The Ghana Stabilisation Fund (GSF) and Ghana Heritage Fund (GHF) were allocated US$115.99 million and US$49.71 million, respectively.
The Ghana National Petroleum Corporation (GNPC) received US$42.63 million to cover equity financing and participating interests.
The Bank of Ghana also noted that Brent crude prices fell from US$66.61 to US$60.81 per barrel by the end of 2025. As of December 31, 2025, Ghana’s total petroleum reserves stood at US$1.55 billion, with the Heritage Fund accounting for US$1.38 billion.
SP/MA
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Source:
www.ghanaweb.com