Ghana’s crude oil lifting receipts dropped sharply to $198.25 million in the second half of 2025, compared to $369.25 million recorded during the same period in 2024.

Data from the Bank of Ghana’s Semi-Annual Petroleum Funds Report shows that the decline reflects fewer 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 was fewer than the number of liftings recorded in the corresponding period last year.

Receipts from the Jubilee field totaled US$134.55 million, while the SGN field contributed US$63.70 million. A crude oil cargo from the TEN field valued at US$60.79 million, expected in November 2025, was not received before the end of the year and was therefore excluded from the 2025 figures.

The report also points to falling international oil prices as a key factor. Brent crude 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 decline in crude oil receipts, total petroleum revenue distributions for the period exceeded receipts, supported by accumulated funds from earlier periods.

The Bank of Ghana cautioned that continued volatility in global oil markets could further affect Ghana’s petroleum revenue performance in the near term.