PIAC projects Ghana’s petroleum revenue to hit $985m in 2026

Ghana is set to see a significant boost in petroleum revenue, with projections indicating the country will generate approximately $985 million in 2026, up from $770 million recorded in 2025, the Public Interest and Accountability Committee (PIAC) has announced.

The expected increase is largely driven by a modest rise in global oil prices, fueled by persistent geopolitical tensions in the Middle East.

PIAC Chairman Richard Ellimah disclosed the forecast during the launch of the committee’s 2025 Annual Report. He noted that average prices for key benchmarks—including Brent, WTI, and Henry Hub—have shown fluctuating trends in recent years.

According to Ellimah, Brent crude averaged $80.5 per barrel in 2024 before dropping to $69.04 in 2025. It is forecast to rebound to approximately $78.8 per barrel in 2026.

“The anticipated price rise is largely attributed to tensions in the Middle East, which have pushed petroleum prices upward,” Ellimah said.

Based on these projections, total petroleum receipts for 2026 are expected to reach about $985 million, marking a notable increase from the previous year’s figure.

However, Ellimah cautioned that the estimates remain projections and could change depending on developments in the global oil market.