Latest data from the Bank of Ghana indicates that Ghana accrued a total of US$399.65 million in petroleum receipts in the second half of 2025.

According to the latest semi-annual report from the Bank of Ghana under the Petroleum Revenue Management Act (Act 815), the receipts were derived from three key sources: crude oil liftings, other petroleum-related inflows, and interest income, spanning July 1 to December 31, 2025.

In its semi-annual report on Ghana’s Petroleum Funds, the Central Bank said crude oil liftings accounted for US$198.25 million, while other income—including corporate taxes and PHF interest—totalled US$201.40 million. Of this, corporate taxes contributed US$198.09 million, with interest earnings of US$3.31 million.

The Ghana National Petroleum Corporation (GNPC), lifting on behalf of the Government of Ghana, undertook three crude oil liftings: the 83rd and 84th parcels from the Jubilee field and the 18th parcel from the Sankofa Gye Nyame (SGN) field. Receipts from the Jubilee liftings fell to US$134.55 million from US$144.20 million in H2 2024, while SGN proceeds declined to US$63.70 million from US$68.54 million in the same period.

The 25th TEN field cargo, valued at US$60.79 million, expected in November 2025, was not received by year-end and was excluded from 2025 receipts.

Total petroleum revenue distributed during the period amounted to US$493.40 million, with US$42.63 million to GNPC, US$285.06 million to the Annual Budget Funding Amount (ABFA), US$115.99 million to the Ghana Heritage Fund (GHF), and US$49.71 million to the Ghana Stabilisation Fund (GSF).

Allocations to GNPC for Capacity and Infrastructure Programme (CAPI) and Equity Financing Costs (EFC) fell sharply from US$166.29 million in H2 2024 to US$42.63 million in H2 2025, while ABFA allocations remained relatively stable. Transfers to the petroleum funds declined significantly, with the Heritage Fund receiving US$115.99 million (down from US$317.81 million) and the Stabilisation Fund US$49.71 million (down from US$136.20 million) compared with H2 2024.

Despite lower inflows, the Ghana Petroleum Funds recorded a net realised income of US$28.11 million, up from US$25.29 million in H2 2024. The Heritage Fund contributed US$25.15 million (89.46%), while the Stabilisation Fund added US$2.96 million (10.54%).

By the end of H2 2025, total petroleum fund reserves stood at US$1.55 billion, with US$1.38 billion in the Heritage Fund and US$174.98 million in the Stabilisation Fund, compared with US$1.46 billion at the end of H2 2024.