Ghana’s petroleum sector is coming under fresh scrutiny after a new report by the Public Interest and Accountability Committee (PIAC) pointed to falling oil revenues and growing concerns about how the sector is being managed.
The report shows that petroleum earnings dropped sharply from about $1.3–$1.36 billion in 2024 to roughly $770 million in 2025, a decline of nearly 43 percent. The fall is expected to weigh heavily on government finances, as lower revenues reduce the funds available for infrastructure and other development projects.
Some economists say the shortfall could further strain the national budget, at a time when the country is already dealing with broader economic pressures.
PIAC also draws attention to declining oil production. Output has been falling steadily over the past six years, dropping from 71.4 million barrels in 2019 to 37.3 million barrels in 2025. The trend is raising concerns that Ghana’s main oil fields may be ageing, with implications for future revenue.
Industry analysts say the situation points to the need for renewed investment in exploration and production to help reverse the decline.
Overall, the report paints a picture of a sector facing multiple challenges, falling revenues, declining output, and unresolved accountability issues all of which point to the need for tighter oversight and more strategic management going forward.
Story by Desmond Okraku Danso || Metro Newsroom
