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flag Ghana’s oil revenue plunged 56% in early 2025 due to lower production, prices, and taxes.

flag Ghana’s petroleum revenue fell 56% year-on-year in the first half of 2025 to $370.3 million, driven by a 25.9% drop in crude oil production to 18.4 million barrels, primarily due to operational shutdowns, maintenance, and reservoir depletion. flag The decline was led by reduced output from key fields, especially Jubilee, which saw a 32.8% drop. flag Lower global oil prices and reduced corporate income tax and participating interest contributions further impacted revenues. flag The Public Interest and Accountability Committee warned of long-term fiscal risks and urged improved oversight, investment in upstream operations, and better management of state-owned enterprises to stabilize the sector.

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