Techiman (Bono East), April 13, – The Public Interest Accountability Committee (PIAC) has raised concern over a sustained decline in Ghana’s crude oil production, warning that the trend signals reduced output from the country’s major oil fields.
According to PIAC, crude oil production has fallen for six consecutive reporting periods, decreasing from 71.44 million barrels in 2019 to 37.3 million barrels in 2025.
Mr Richard Ellimah, Chairman of PIAC, said the figures represent an average annual decline of about nine per cent, suggesting that Ghana’s oil fields may have reached peak production and are now on a downward trajectory.
He made the remarks during a media engagement in Techiman in the Bono East Region where the Committee presented highlights of its 2025 Annual Report.
Mr Ellimah noted that output from the TEN oil field had particularly underperformed relative to initial expectations.
He also disclosed that an investment of US$30 million at the Accra International Airport had generated US$17.9 million in interest between 2017 and 2025.
He urged the Ministry of Finance to strictly apply the statutory formula for capping the Ghana Stabilisation Fund (GSF), stating that the current US$100 million ceiling for 2025 was inconsistent with regulatory provisions under L.I. 2381.
A member of PIAC, Mr Constantine Kojo Mawuena Kudzedzi, explained that the Committee’s mandate includes monitoring petroleum revenues and ensuring their prudent use in the public interest.
He said PIAC continues to expose inefficiencies and promote accountability in the management of oil revenues, while encouraging reforms to strengthen governance systems.
He added that public feedback and PIAC’s findings consistently point to the need for improved transparency and better stewardship of petroleum resources.
GHBUSS
13 April 2026
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