New Bank of Ghana data shows Ghana collected just US$399.65 million in petroleum revenue during the second half of 2025 (July–December), a steep drop from the US$369.25 million earned from crude oil liftings alone in H2 2024.
The Semi-Annual Petroleum Holding Fund (PHF) report attributes this to inflows from two sources: US$198.25 million from crude oil liftings (two Jubilee cargoes and one Sankofa Gye Nyame cargo by the Ghana Group via GNPC) and US$201.40 million from corporate taxes (US$198.09 million) plus PHF interest (US$3.31 million).
Notably, proceeds from the TEN field’s 25th cargo—valued at US$60.79 million and due in November—remained unpaid by year-end, excluding it from totals.
Revenue Distribution
Even with lower inflows, distributions hit US$493.40 million, drawing on reserves and other income. The Annual Budget Funding Amount (ABFA) got the biggest slice at US$285.06 million for development programs. Ghana Stabilisation Fund received US$115.99 million, Ghana Heritage Fund US$49.71 million, and GNPC US$42.63 million for equity and participation costs.
Fund Performance and Reserves
Petroleum savings performed well, with Ghana Petroleum Funds netting US$28.11 million in realized income. The Heritage Fund returned 2.28%, and Stabilisation Fund 2.51%.
Total reserves reached US$1.55 billion by December 31, 2025, led by the Heritage Fund’s US$1.38 billion.
2026 Outlook
BoG remains cautious, citing Brent crude’s slide from US$66.61 to US$60.81 per barrel by late 2025. With IMF global growth at 3.3%, revenues face risks from Middle East tensions and OPEC+ cuts. Oil prices may average US$62.13 per barrel next year, limiting recovery.
Story by: Mercy Addai Turkson #ahotoronline.com