WIRE — 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.
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