The Public Interest and Accountability Committee (PIAC) is urging government to make strategic investments in the country’s oil-producing fields, particularly the Tweneboa-Enyenra-Ntomme (TEN) Field, amid a sustained decline in crude oil output.
Ghana’s oil production has fallen for the sixth consecutive year, dropping from a peak of 71.44 million barrels in 2019 to 37.3 million barrels in 2025, representing an average annual decline of about nine percent.
Presenting highlights of PIAC’s 2025 Annual Report in Accra, Chairman Richard Ellimah stressed the need for government, through the Petroleum Commission, to strengthen regulatory and fiscal frameworks while intensifying data acquisition in new oil basins.
The committee also reported a sharp drop in petroleum revenues, which declined from $1.35 billion in 2024 to $770.27 million in 2025 — a decrease of 43.27 percent.
Mr. Ellimah attributed the downturn to reduced production levels and lower realized crude oil prices across the country’s producing fields.
Meanwhile, PIAC raised concerns over government’s flagship Accra-Kumasi Expressway project, calling for strict adherence to the Petroleum Revenue Management Act.
The committee is demanding that provisions be made to transfer the Annual Budget Funding Amount (ABFA), allocated under the government’s “Big Push” policy, to the Ghana Infrastructure Investment Fund (GIIF) to ensure full compliance with the law.
PIAC emphasized that prudent management of petroleum resources and adherence to existing legal frameworks are critical to sustaining the country’s energy sector and broader economic stability.
Source: www.kumasimail.com
