Ghana’s Crude Oil Output Declines for Sixth Consecutive Year — PIAC Calls for Urgent Investment

Ghana’s crude oil production has dropped for the sixth consecutive year, raising fresh concerns about the sustainability of the country’s petroleum sector and its impact on national revenue.

According to the 2025 Annual Report released by the Public Interest and Accountability Committee (PIAC), total crude oil output has declined significantly from a peak of 71.4 million barrels to 37.3 million barrels in 2025. This represents a compounded annual average decline of approximately 9 percent over the period.

Sustained decline raises concern

Presenting highlights of the report on Wednesday, April 8, PIAC Chairman Richard Ellimah described the trend as worrying and called for immediate action to reverse the downturn.

He noted that the consistent drop in production should be a matter of national concern, given the critical role the petroleum sector plays in Ghana’s economy.

Call for increased investment

PIAC is urging government to strengthen collaboration with the Petroleum Commission to attract new investments into the sector.

According to the committee, increased capital injection is essential to boost output in existing oil fields and unlock additional production capacity.

Particular attention was drawn to the TEN Field, where production levels have reportedly fallen short of expectations. The committee recommends the development of a targeted framework to improve performance in such underperforming assets.

Economic implications

The continued decline in crude oil production has significant implications for government revenue, as oil remains a key contributor to Ghana’s export earnings and fiscal stability.

Lower production levels could translate into reduced income for the state, potentially affecting funding for infrastructure, social services, and other development priorities.

Way forward

Mr Ellimah further advised government to implement policies that will attract both local and foreign investors into the petroleum sector, while also improving operational efficiency across existing fields.

He stressed that without deliberate and sustained intervention, the downward trend in production could persist, posing long-term risks to the country’s economic outlook.

The PIAC report adds to growing calls for strategic reforms within Ghana’s oil and gas industry to ensure its resilience and continued contribution to national development.

Jacqueline Nana Tutua