Senegal reports surge in hydrocarbon and fiscal revenues

Senegal's hydrocarbon revenues reached 37.5 billion FCFA in the first half of 2025, according to the Extractive Industries Transparency Initiative (EITI). This represents a 74.22% increase compared to the same period in 2024. The growth was primarily driven by PETROSEN, which contributed 37.84 billion FCFA, and increased payments from Kosmos. In contrast, Woodside and BP Sénégal saw revenue decreases of 12.15% and 27.04%, respectively.

The overall extractive sector generated 303.02 billion FCFA during this period, with 293.24 billion FCFA allocated to the state budget. While oil revenues are rising due to the Sangomar and Grand Tortue/Ahmeyim (GTA) fields, the mining sector remains the primary driver of extractive revenue, accounting for 74.1% of the total, largely supported by high gold prices.

On a broader fiscal level, Senegal's total state revenues for the first five months of 2025 reached 1,470.5 billion FCFA, a 7.9% increase over the previous year. This growth was driven by tax revenues, which rose to 1,384.3 billion FCFA, while non-tax revenues saw a decline. Specifically, corporate tax saw a significant increase of 41.9%, whereas income tax decreased by 14% over the same five-month period.