The Public Interest and Accountability Committee (PIAC) has reported a sharp decline in Ghana’s crude oil production, revealing that output fell by 25.92 percent in the first half of 2025 compared to the same period in 2024.
According to the 2025 PIAC Semi-Annual Report, crude oil production dropped from 24,857,477.52 barrels in H1 2024 to 18,415,410.74 barrels in H1 2025, raising concerns about the country’s upstream petroleum sector and its ability to attract new investments.
“The Committee observed that for period-by-period comparison, crude oil production declined by 25.92 percent, from 24,857,477.52 bbls in H1 2024 to 18,415,410.74 bbls in H1 2025,” the report stated.
READ: Ghana struggling to attract new oil investments since 2018 – PIAC reveals
The report, which covers January to June 2025, examines the management and utilization of petroleum revenues, including allocations from the Annual Budget Funding Amount (ABFA) and the Ghana Petroleum Funds.
It also highlights other challenges, such as the increase in surface rental arrears and the lack of new petroleum agreements signed since 2018.
PIAC has urged the government, the Ministry of Energy, and related institutions to prioritize measures that can reverse the decline, including securing investments in the upstream petroleum sector and improving production efficiency.
The Committee also stressed the importance of transparent and accountable management of petroleum revenues to ensure the sector contributes effectively to national development.
Source: Starrfm.com.gh
