Crude oil
Crude oil revenue between July and December 2025 dropped to US$198.25 million for the second half of 2025 from US$369.25 million in 2024, according to a report released by the Bank of Ghana.
The semi-annual report released under the Petroleum revenue Management Act (815) starting from July 1 to December, 2025 showed that the total receipts from the 83rd and 84th liftings from the Jubilee field were US$134.55 million compared to US$144.20 million received in second half (H2) of 2024.
“The Petroleum Holding Fund PHF received a total amount of US$198.25 million from lifting proceeds in H2 2025 compared to receipts of US$369.25 million in H2 2024,” parts of the report stated.
“The total amount received into the Petroleum Holding Fund (PHF) account for H2 2025 was US$399.65 million (Crude oil lifting total of US$198.25 million and other total income of US$201.40 million). The total amount distributed from the PHF during the period was US$493.40 million,” parts of the report stated.
It stated that during the period under review, a total amount of US$201.40 million was received as other income for corporate income tax and Petroleum Holding Fund (PHF) interest. The amounts received comprise US$198.09 million for corporate income tax and US$3.31 million for PHF interest.
This according to the report consists of lifting proceeds from the 83rd and 84th liftings from Jubilee totaling US$134.55 million and 18th lifting from Sankofa Gye-Nyame (SGN) field of US$63.70 million, as well as other incomes totaling US$295.15 million.
The report stated that the 18th lifting from Sankofa Gye-Nyame (SGN) field was US$63.70 million in comparison to second half (H2) 2024, with 16th lifting amount of US$68.54 million while the Petroleum Holding Fund Account (PHF) at the end of second half (H2) 2025, held a balance of US$0.32 million which comprised Petroleum Holding Fund (PHF) overnight interest and a mandatory balance.
It stated, “The total amount received by Annual Budget Fund Amount (ABFA) for H2 2025 was US$285.06 million compared to US$287.68 in H2 2024. The Ghana Heritage Fund and Ghana Stabilisation Fund received US$115.99 million and US$49.71 million respectively in H2 2025 compared to US$317.81 million and US$136.20 million respectively received in H2 2024”.
The Petroleum Holding Fund and the Ghana Petroleum Funds were established by the Petroleum Revenue Management Act, 2011 (Act 815) (PRMA) and (Act 893) and (Act 1138) as amended.
By Ebenezer K. Amponsah