{"id":15380,"date":"2026-02-03T09:37:42","date_gmt":"2026-02-03T09:37:42","guid":{"rendered":"https:\/\/www.fishfmonline.com\/?p=15380"},"modified":"2026-02-03T09:37:42","modified_gmt":"2026-02-03T09:37:42","slug":"petroleum-revenue-drops-to-399m-in-ghanas-h2-2025","status":"publish","type":"post","link":"https:\/\/www.fishfmonline.com\/?p=15380","title":{"rendered":"Petroleum Revenue Drops to $399m in Ghana’s H2 2025"},"content":{"rendered":"
\n

Latest data from the Bank of Ghana indicates that Ghana earned US$399.65 million in total petroleum revenue in the second half of 2025, a sharp decline compared to earnings in the same period of 2024.<\/p>\n

According to the Semi-Annual Report on the Petroleum Holding Fund (PHF),\u00a0although the figure reflects combined inflows from crude oil sales and petroleum-related taxes, it falls well below the US$369.25 million generated from crude oil liftings alone in H2 2024, underscoring a slowdown in petroleum revenue performance.<\/p>\n<\/div>\n

Total receipts between July 1 and December 31, 2025 came from two main sources. Crude oil liftings from the Jubilee and Sankofa Gye Nyame (SGN) fields generated US$198.25 million, following the lifting of two Jubilee cargoes and one SGN cargo by the Ghana Group, represented by the Ghana National Petroleum Corporation (GNPC).<\/p>\n

In addition, 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.<\/p>\n

The report also highlighted the absence of proceeds from the 25th cargo from the TEN field, valued at US$60.79 million. Although the cargo was expected in November 2025, the funds had not been received by year-end and were therefore excluded from reported revenue.<\/p>\n

Distribution of Petroleum Revenue<\/strong><\/p>\n

Despite lower inflows, total petroleum revenue distributed in H2 2025 reached US$493.40 million, exceeding receipts from use of accumulated balances and other income.<\/p>\n

The Annual Budget Funding Amount (ABFA) received the largest share at US$285.06 million to support government development programmes. The Ghana Stabilisation Fund (GSF) and the Ghana Heritage Fund (GHF) were allocated US$115.99 million and US$49.71 million, respectively. The GNPC received US$42.63 million to cover equity financing costs and participating interests.<\/p>\n

Fund Performance and Reserves<\/strong><\/p>\n

Ghana\u2019s petroleum savings recorded positive returns during the period. The Ghana Petroleum Funds (GPFs) earned a net realised income of US$28.11 million. The Heritage Fund posted a return of 2.28%, while the Stabilisation Fund recorded 2.51%.<\/p>\n

As of December 31, 2025, the total value of Ghana\u2019s petroleum reserves stood at US$1.55 billion, with the Heritage Fund accounting for US$1.38 billion of the total.<\/p>\n

In its outlook, the Bank of Ghana struck a cautious tone for 2026, noting that Brent crude prices fell from US$66.61 to US$60.81 per barrel by the end of 2025.<\/p>\n

While the IMF projects global growth of 3.3%, the report warns that Ghana\u2019s petroleum revenues will remain vulnerable to geopolitical tensions in the Middle East and OPEC+ production decisions.<\/p>\n

Oil prices are expected to average around US$62.13 per barrel in 2026, suggesting limited upside for petroleum revenue in the near term.<\/p>\n","protected":false},"excerpt":{"rendered":"

Latest data from the Bank of Ghana indicates that Ghana earned US$399.65 million in total petroleum revenue in the second half of 2025, a sharp decline compared to earnings in the same period of 2024. According to the Semi-Annual Report on the Petroleum Holding Fund (PHF),\u00a0although the figure reflects combined inflows from crude oil sales […]<\/p>\n","protected":false},"author":123457,"featured_media":15381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[3537,41,4414],"tags":[2121,3921,4848],"class_list":["post-15380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-general-news","category-revenue","tag-bank-of-ghana-2","tag-headline","tag-petroleum-holding-fund"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/123457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15380"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15380\/revisions"}],"predecessor-version":[{"id":15382,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15380\/revisions\/15382"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/15381"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}