Ghana’s total petroleum receipts fell sharply to about $769 million in 2025, down from roughly $1.35 billion the previous year, according to data from the Bank of Ghana and the Ministry of Finance.
The decline was recorded nationwide and reflects earnings from crude oil liftings, royalties, carried and participating interests, corporate income tax, surface rentals and other inflows.
Finance Minister Dr. Cassiel Ato Forson said in the 2026 Budget, presented to parliament in November 2025, that the outturn was well below the government’s projection of $1.01 billion for the year.
He noted that the 2025 figure represents a decline of about 35.7% compared with receipts over the same period in 2024.
Dr. Cassiel Ato Forson attributed the downturn mainly to a lower average crude oil price of $75 per barrel, compared with $82.3 per barrel a year earlier, as well as fewer crude oil liftings.
He said reduced production from Ghana’s mature oil fields was a key factor behind the fall in liftings, a view echoed by market analysts citing operational and global market challenges.
Despite the slump, petroleum revenues remain central to Ghana’s fiscal framework, funding the Annual Budget Funding Amount, the Ghana Stabilisation Fund and the Ghana Heritage Fund, the minister said.
He added that the decline underscores the need for faster investment in field development, diversification of energy sources and stronger revenue management.
Corporate income tax contributed about $346 million in 2025, down from more than $500 million in 2024, while earnings from crude oil exports were estimated at $416 million.
The closing book value of investments under Ghana’s Petroleum Funds stood at about $1.5 billion as of December 2025.