Ghana’s crude oil production falls for six years, costing billions in lost revenue – IES report

Ghana's crude oil production has declined for six consecutive years, falling by nearly half since its 2019 peak and costing the country billions of dollars in lost revenue, according to a new report by the Institute for Energy Security (IES). The analysis, authored by Smith Prosper Boahene and Prince Lumor, describes the prolonged downturn as a structural crisis driven by ageing oil fields, limited upstream investment and the absence of new petroleum agreements since 2018.