The Energy Sector in Ghana contributes significantly to the economy. The sector can be classified into two main sub-sectors as follows:

  • Petroleum Sub-sector
  • Power Sub-Sector

Ghana’s petroleum sector involves upstream and downstream activities. The upstream activities include the production, procurement and refining of crude oil and the downstream activities include production, distribution and marketing of petroleum products and premixing of petroleum products for industrial uses including fishing.


Distribution of petroleum products in Ghana is dominated by multinational oil marketing companies. Following the deregulation policy of the government, the oil marketing companies have increased in numbers to include several local Ghanaian companies. The products are retailed through gas stations which are either owned by the Oil Marketing Companies (OMCs) or private individuals. There are one hundred and thirty-three (133) oil marketing companies in Ghana. The private sector, including the OMCs and other sources of supply for finished products through an open competitive tendering system.

The power sub-sector involves the generation, transmission and distribution of electrical energy for industrial, commercial and domestic use in Ghana.

The Power System of Ghana is run by three utility companies; the Volta River Authority (VRA), Ghana Grid Company Limited (GRIDCO) and the Electricity Company of Ghana (ECG).

Electricity is the dominant modern energy form used in the industrial and service sectors accounting for 69% of modern energy used in the two sectors of the national economy. The Ghana electricity supply industry is unbundled with separate jurisdictions and entities regarding activities of electricity generation, transmission and distribution.

Electricity generation is undertaken by the state-owned Volta River Authority (VRA), which operates the Akosombo Hydro Power Station, Kpong Hydro Power Station and Takoradi Thermal Power Plant (TAPCO) at Aboadze. VRA is also a minority joint partner with TAQA, a private sector company which owns and operates the Takoradi International Power Company (TIPCO) thermal power plant also located at Aboadze. Bui Power Authority (BPA), another state-owned entity is charged with the implementation of the Bui Hydro Electric Power Project. In addition, independent power producers have been licensed to build, own and operate power plants.

The Energy sector of the Association of Ghana Industries (AGI) is poised to continue its support to sector members to fully realize the potential of this sector.



Mr. Martin Olu-Davies is currently the Head of Health, Safety and Environment of Ghana Oil Company Limited (GOIL). He had served in various capacities at GOIL before assuming his current position and has twenty-four (24) years of industry experience. He joined GOIL in 1995 as a District Sales Representative in Tema after working with reputable companies such as Africa Petroleum PLC and Elf Oil Ghana Limited.

At GOIL, Mr. Olu-Davies was in charge of Consumer and Bunkering Sales in Tema from 1995 to 1999 and has since held a number of senior roles and overseen the marketing of GOIL products in seven regions in Ghana. He served as Regional Manager for Volta and Eastern Regions from 1999 to 2001 and from 2001 and 2007, he worked as a Zonal Manager in charge of Northern Zone (Northern, Upper East and West Regions) and the Middle-Belt Zone (Ashanti and Brong Ahafo Regions).

He was transferred to the IT and Planning Department as Budget and Planning Analyst from 2007 to 2012 and from 2012 to 2015 as Training Development Manager with the Administration and HR Department. He was appointed as the Business Development Manager and served in that capacity from 2015 to 2016.

He holds an MSc in Economics and an MBA from the University of Leicester and is also a member of the Institute of Human Resources Management Practitioners, as well as Ghana Institute of Management, Accra Ghana. He has taken several certification trainings such as NEBOSH General Certificate and ISO 9001:2015 Lead Auditor Training, both in Ghana and the UK.

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