Ghana’s crude oil production drops from 71.4m to 37.3m barrels — PIAC

Ghana’s crude oil output has dropped for the sixth consecutive year, falling from a peak of 71.4 million barrels to 37.3 million barrels in 2025, representing a compounded annual average decline of 9 percent.

The figures are contained in the 2025 Annual Report by the Public Interest and Accountability Committee.

Presenting highlights of the report on Wednesday, April 8, PIAC Chairman Richard Ellimah called for urgent action to reverse the trend, urging government to deepen collaboration with the Petroleum Commission to attract investment into the sector.

“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,” he said.

He recommended that authorities develop a targeted framework to stimulate investment in existing producing fields, particularly the TEN field, where output has fallen short of expectations.

Mr Ellimah further stressed the need for renewed efforts to draw additional capital into the petroleum industry to stabilise production levels and drive future growth.