Ghana’s Petroleum Revenue Rises 52% to $561.4m – PIAC Report
By Emmanuella Erica Bruce The Public Interest and Accountability Committee (PIAC) has revealed an increase in Ghana’s petroleum revenue by 52% from US$370.34 million recorded in the first half of 2025 to US$561.41 million in the first half of 2026. The increase was mainly influenced by higher crude oil prices and improved corporate income tax […]
The Public Interest and Accountability Committee (PIAC) has announced a significant 52% rise in Ghana's petroleum revenue, reaching an impressive US$561.41 million in the first half of 2026. This surge is attributed to higher crude oil prices and increased corporate income tax receipts, despite ongoing investment challenges and concerns about revenue management and transparency.
The report, published on October 21, notes a 11.7% increase in crude oil production, escalating from 18.42 million barrels in 2025 to 20.58 million barrels in 2026. The average price of crude oil for Ghana's petroleum production reached US$92.81 per barrel, surpassing the government's benchmark price of US$76.22. However, the committee warns that Ghana's petroleum revenue remains susceptible to fluctuations in international oil prices and production levels.
PIAC stresses the necessity for continuous investment in Ghana's upstream petroleum sector to bolster production and safeguard future revenue. The organization has persistently raised concerns over investment challenges in Ghana's oilfields, particularly the Tweneboa, Enyenra, and Ntomme (TEN) fields, advocating for measures to improve performance and attract investment to ensure the long-term sustainability of Ghana's petroleum production.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
