The Ministry of Energy and Business – originally named the Energy Division – was established in 1978 under the Ministry of Trade on the advice of technical assistance experts from the Overseas Development Administration of the United Kingdom.

Since 1978, the Ministry has expanded into an organisation responsible for oil and gas, renewable energy and energy conservation (having amalgamated with the Energy Conservation Unit). The Ministry also provides geological and earth science services to other Government departments, as well as to the private sector.