A member of the Parliamentary Select Committee on Energy, Charles Asiedu, highlighted several factors contributing to the significant decline in crude oil extraction in the country.
He mentioned the difficulty international oil companies face in obtaining licenses to operate in the oil industry, as well as disunity, legal disputes, and burdensome government tax policies as contributing factors.
Mr. Asiedu further supported his statement with Energy Minister Abdulai Jinapor’s report on oil production indicators.
The report shows a decrease of over 32% from 2019 to 2024, and a drop from 74.4% to 48.2%, respectively.
According to him, “The report shows that the decline in oil extract is massive and sharp.”
Mr. Asiedu gave these indications on Angel TV on Thursday, November 6, 2025, during a panel discussion segment on the Angel Morning Show (AMS).
He applauded the Energy Minister for highlighting the challenges in the oil industry without politicizing them.
“I was so happy when he gave the indications of the challenges, because most ministers would have excluded themselves since he wasn’t the energy minister at the time,” he added.
Mr. Asiedu, who is also the Member of Parliament for Tano South, underpinned the need to resolve these issues, stating that investment in the oil sector is a major contributor to Ghana’s Gross Domestic Product (GDP).
Contributor: Salamatu Adama
