The Bank of Ghana has reported a sharp decline in petroleum lifting receipts in the second half of 2025, with inflows into the Petroleum Holding Fund (PHF) falling significantly compared to the same period a year earlier.
In its semi-annual report on Ghana’s Petroleum Finds for H2 2025, the Central Bank said the PHF received a total of US$198.25 million from crude oil lifting proceeds, down from US$369.25 million recorded in H2 2024.
According to the report, the Ghana National Petroleum Corporation (GNPC), lifting on behalf of the Government of Ghana, undertook three crude liftings during the period. These comprised the 83rd and 84th parcels from the Jubilee field, as well as the 18th parcel from the Sankofa Gye-Nyame (SGN) field.
Receipts from the two Jubilee liftings amounted to US$134.55 million, lower than the US$144.20 million realised from the 81st and 82nd liftings in the second half of 2024. Meanwhile, proceeds from the 18th lifting at the SGN field stood at US$63.70 million, compared with US$68.54 million earned from the 16th lifting in the corresponding period of the previous year.
The Bank of Ghana noted that the Petroleum Holding Fund and the Ghana Petroleum Funds were established under the Petroleum Revenue Management Act, 2011 (Act 815), as well as Acts 893 and 1138, as amended, to receive, manage and allocate petroleum revenues in line with Ghana’s fiscal and development priorities.