Ghana accrued a total of $370.62 million in petroleum receipts in the first 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 the period January to June 2025.
According to data from the Bank of Ghana crude oil liftings alone generated $218.63 million, representing proceeds from the 81st and 82nd Jubilee liftings and the 17th SGN Field lifting.
An additional $148.75 million came from other receipts, primarily corporate income taxes, surface rentals, and final tax payments by key upstream oil companies including Kosmos Energy, Tullow Ghana, ENI Ghana, and Petro SA.
Interest income from Petroleum Holding Fund (PHF) investments contributed $3.24 million to the total.
This brings total petroleum revenue for the first half of the year to $370,622,150.61.
Out of the total petroleum receipts, $63.53 million was allocated to the Ghana Petroleum Funds (GPFs).
The Ghana Stabilisation Fund (GSF) received $44.47 million while the Ghana Heritage Fund (GHF) received $19.06 million.
This aligns with the allocation formula under the PRMA, which mandates the transfer of a portion of petroleum revenues to savings and stabilisation buffers.
The Ghana Stabilisation Fund, which started the year with $196.92 million, received allocations and interest of $47.33 million. However, the government made a withdrawal of $121.33 million, leaving the fund with a closing balance of $122.91 million by end-June 2025.
The Ghana Heritage Fund saw its balance rise from $1.26 billion to $1.3 billion, with no withdrawals recorded during the period. The fund earned $23.92 million in interest income.
Significantly, the Bank of Ghana report shows that no disbursement was made to the Annual Budget Funding Amount (ABFA) in the first half of 2025.
This could be due to timing issues, as some Q1 corporate tax payments were received late and earmarked for allocation in the second half of the year.
