Ghana’s crude oil production has declined for the sixth consecutive year, sliding from a peak of 71.4 million barrels to just 37.3 million barrels in 2025, a compounded annual average decline of 9%, according to the 2025 Annual Report by the Public Interest and Accountability Committee (PIAC).
The alarming figures were presented on Wednesday, April 8, when PIAC Chairman Richard Ellimah stepped before the public to highlight the growing crisis gripping the country’s petroleum sector. With each passing year, Ghana’s oil output has continued its downward spiral, raising serious concerns about the nation’s long-term energy revenue and economic stability.
“In 2025, crude oil production declined for the sixth consecutive year, falling from a high of 71.4 million barrels to 37.3 million barrels. This represents a compounded annual average decline of 9%, which should be a concern for every Ghanaian,” Ellimah warned.
The PIAC Chairman did not stop at sounding the alarm; he came up with recommendations. He urged the government to strengthen its collaboration with the Petroleum Commission to attract fresh investment into the sector and help reverse the troubling downward trend. Central to his recommendations was a call for developing a dedicated framework to boost investment in existing producing fields, with particular attention to the Tweneboa, Enyenra, and Ntomme (TEN) field, where output has consistently underperformed expectations.
Beyond reviving existing fields, Ellimah also pressed the government to take proactive steps to court additional investors into Ghana’s oil sector, a move he believes is critical to stabilising and ultimately growing production levels.
As Ghana grapples with dwindling oil revenues, the message from PIAC is clear: without decisive action and meaningful investment, the country risks watching its petroleum fortunes continue to erode.
Source: Apexnewsgh.com