Ghana’s Energy Sector shows signs of recovery and stability – John Jinapor

The Minister of Energy and Green Transition, Dr. John Jinapor, has stated that Ghana’s energy sector is beginning to show renewed growth and stability, despite recent data indicating continued decline in crude oil production.

His remarks follow concerns raised in the 2025 annual report by the Public Interest and Accountability Committee (PIAC), which highlighted a sustained drop in petroleum production.

According to PIAC, Ghana’s crude oil output fell for the sixth consecutive year in 2025, declining from a peak of 71.44 million barrels in 2019 to 37.3 million barrels in 2025. This represents an average annual decline of about nine percent over the period.

However, speaking at the Ghana-UK Investment Summit 2026, Dr. Jinapor expressed optimism about the sector’s outlook, noting that government interventions and renewed investor confidence are beginning to reverse the trend.

“We have secured over US$3.5 billion in upstream oil and gas investment commitments, resumed major drilling activities, and expect crude oil production to increase for the first time in almost six years,” he said.

He reaffirmed government’s commitment to building a secure, affordable, reliable and sustainable energy system, anchored on both fossil fuels and renewable energy development.

Dr. Jinapor explained that under the National Energy Policy and Energy Transition Framework, Ghana is pursuing a balanced approach that maximises domestic oil and gas resources while expanding investment in renewable energy and exploring nuclear power options.

He also outlined key investment opportunities in gas infrastructure, gas-to-power projects, renewable energy, power sector modernisation and upstream petroleum activities, describing them as central to Ghana’s ambition to become a regional energy hub.

“These are key pillars of our vision to position Ghana as a regional energy hub and drive industrial transformation,” he noted.

The Energy Minister further called on international investors to take advantage of Ghana’s improving policy environment and renewed stability in the sector.

“With restored confidence, a stable policy environment, ongoing reforms, and a commitment to private-sector-led growth, Ghana is open for business and ready to deliver long-term value and shared prosperity,” he added in a post on Facebook following the summit.

Despite the recent production declines flagged by PIAC, the Minister maintained that ongoing investments and reforms are expected to strengthen the sector and support future growth.