THE SIXTH YEAR OF DECLINE: HAS GHANA'S OIL ALREADY PEAKED?
Over six years, Ghana’s oil production has dropped dramatically, from 71.44 million barrels in 2019 to 37.3 million in 2025. PIAC's 2025 Annual Report presents more than just numbers; it delivers a sobering verdict on the future of Ghana’s petroleum era. Source: caspianbarrel.org The word "sixth" carries weight here. This is not a first warning or a temporary dip. After six straight years of declining output, the pattern is no longer a caution; it’s reality. Ghana’s crude oil production in 2025 was less than half its 2019 peak. The Public Interest and Accountability Committee confirmed this in its 2025 report, launched in Accra on April 8, 2026, revealing what many had long suspected: the oil fields have peaked, and Ghana is now facing decline. PIAC Chairman Richard Ellimah put it clearly: “Production has fallen from 71.44 million barrels in 2019 to 37.3 million barrels in 2025, a compounded annual decline of 9%. This confirms the common view that Ghana’s oil fields have...