Also known as: National Petroleum Corporation (Namcor) · National Petroleum Corporation · The National Petroleum Corporation of Namibia · the Namcor terminal · National Petroleum Corporation of Namibia (Namcor) · Namcor matter · Namcor corruption case · Namibia Petroleum Corporation of Namibia · state oil company Namcor · National Petroleum Corporation of Namibia · national oil company Namcor
NAMCOR — state-owned National Petroleum Corporation involved in upstream exploration partnerships and fuel procurement, recently appointed Victoria Sibeya as managing director.
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The Namibian
Namcor filed for Enercon's liquidation in High Court to reclaim N$114-million debt
“The parastatal has since filed for Enercon's liquidation in the High Court to reclaim the N$114-million debt.”
N$60-million payout to Enercon despite fuel delivery failure sparks controversyThe Namibian
NAMCOR says significant progress is being made in oil and gas exploration activities
“The National Petroleum Corporation of Namibia (Namcor) says significant progress is being made in the country's oil and gas exploration activities.”
Oil & gas exploration progressing well – NamcorThe Namibian
NAMCOR has advertised the position of managing director despite legal action
“The National Petroleum Corporation of Namibia (Namcor) has advertised the position of managing director despite both the company and its former head, Immanuel Mulunga, taking legal action against each other in the Labour Court.”
Legal battles don’t Halt Namcor’s search for new leadershipThe Namibian
NAMCOR filed a case against Mulunga on 8 November 2024 alleging discrimination and breach of contract
“Namcor, in turn, also filed a case against Mulunga on 8 November 2024 alleging discrimination and breach of contract.”
Legal battles don’t Halt Namcor’s search for new leadershipThe Namibian
Namcor defended involvement by stating it was invited to provide updates on oil and gas sector
“Namcor also defended its involvement, stating it was invited by the regional council to provide updates on the oil and gas sector, focusing on youth engagement.”
Green Hydrogen programme, Namcor defend Swapo rally appearanceThe Namibian
Namcor says it is apolitical
“The National Petroleum Corporation of Namibia (Namcor) says it is apolitical.”
Namcor defends executive Sibeya's ‘conversational' remarks amid political backlash at Swapo rallyThe Namibian
NAMCOR saved N$22 million through cost optimisation in 2024
“"Cost optimisation initiatives have saved N$22 million in 2024," says Coelho.”
Namcor saves N$22 million through cost optimisationThe Namibian
NAMCOR paid N$550 million to Gunvor Group
“The company has also been able to pay half (N$550 million) of the N$1.1 billion it owes the international oil and commodities company, the Gunvor Group.”
Namcor saves N$22 million through cost optimisationThe Namibian
Namcor has paid N$550 million of its N$1.1 billion debt to Gunvor Group
“The National Petroleum Corporation of Namibia (Namcor) has paid N$550 million of its N$1.1 billion debt to Gunvor Group.”
Namcor pays N$550 million of N$1.1 billion debt to Gunvor GroupThe Namibian
Namcor appointed Mildred Hendricks to its board of directors
“The National Petroleum Corporation of Namibia (Namcor) has appointed Mildred Hendricks to its board of directors.”
Namcor appoints new board memberThe High Court has frozen assets linked to Namcor accused Cornelius 'Cedric' Willemse, including farm Groot Driehoekvlakte in Hardap and a Toyota Land Cruiser, as part of efforts by the prosecutor general to permanently seize them under the Prevention of Organised Crime Act.
20 July 2026 · The Namibian →
The High Court has frozen assets linked to Namcor accused Cornelius 'Cedric' Willemse, including farm Groot Driehoekvlakte in Hardap and a Toyota Land Cruiser, as part of efforts by the prosecutor general to permanently seize them under the Prevention of Organised Crime Act.
20 July 2026 · The Namibian →
Reconnaissance Energy Africa Ltd has successfully produced hydrocarbons to surface during production testing at its Kavango West 1X discovery well in northeastern Namibia, the company says, marking the first hydrocarbons ever produced to surface from an onshore well in the country. The Canadian firm, together with partners BW Energy (20% working interest) and NAMCOR (10% carried working interest), completed testing of three zones in the Elandshoek Formation, with the uppermost zone producing natural gas during flow tests.
20 July 2026 · Windhoek Observer →
Mobile Telecommunications Limited (MTC) scored 20 out of 20 in IJG Securities' 2026 Public Enterprise Governance Ranking, which assessed public enterprises over five years on annual report publication, profitability, fiscal transfer reliance, and CEO stability. NamPort, Agribank, and NamibRe placed second with 19 points each, while NamPower and NamWater tied for fifth with 18 points.
14 July 2026 · Windhoek Observer →
The Labour Court has referred a dispute between state-owned Namcor Petroleum Trading and Distribution and its former managing director Imms Mulunga back to arbitration, after ruling that an arbitrator wrongly dismissed the case in June. Mulunga was dismissed in August 2024 after being found not guilty in a disciplinary hearing, and Namcor subsequently referred claims against him for breach of contract and financial losses to the Labour Commissioner in October 2024.
13 July 2026 · The Namibian →
The Labour Court has overturned an arbitrator's decision, allowing national oil company Namcor to pursue a N$304 million claim against Mulunga.
13 July 2026 · Namibian Sun →
Namibia's offshore oil discoveries have attracted global interest, but international companies must embrace partnership, transparency, and shared progress rather than transactional models, with strict adherence to local taxation and labor laws required by the Ministry of Mines and Energy and NAMCOR.
9 July 2026 · Windhoek Observer →
A Windhoek High Court judge has ordered businessmen Peter and Malakia Elindi and three close corporations to pay N$28.8 million to the Development Bank of Namibia in a summary judgement, arising from loan agreements with the fuel company Enercon Namibia, of which the Elindis are former directors and shareholders.
6 July 2026 · The Namibian →
Namibia's offshore oil discoveries have attracted international interest, but the country is enforcing strict local content requirements and regulatory compliance to ensure sustainable development and shared national progress. International companies must adhere to Namibian taxation and labour laws as a foundational requirement for operations.
6 July 2026 · The Namibian →
RHINO Resources' Capricornus-1A appraisal well offshore Namibia has confirmed an oil-bearing reservoir connected to the previously discovered Capricornus-1X well, providing evidence of reservoir continuity in the Capricornus discovery in Block 2914 of the Orange Basin.
3 July 2026 · Informanté →
Victoria Sibeya has been appointed managing director of the National Petroleum Corporation of Namibia, effective 1 July. Sibeya, who joined Namcor in 2006 and has been director of upstream exploration since 2019, will be the company's sixth substantial managing director.
1 July 2026 · The Namibian →
As Namibia prepares for offshore oil production, the government must formalize and gazette the National Upstream Petroleum Local Content Policy (finalized in March 2025) to ensure Namibian businesses and workers benefit from the sector. The article uses a kitchen analogy to argue that formal rules—modeled on lessons from Brazil and Norway—are essential for Namibia to build generational wealth from its oil resources.
24 June 2026 · The Namibian →
Aune Amutenya, Deputy Director of Petroleum Exploration and Production, has been appointed Acting Petroleum Commissioner, effective 2 June 2026, replacing Maggy Shino, who has been relieved of the position but will remain Director in the Department of Upstream Petroleum Affairs.
19 June 2026 · Informanté →
Oil industry executives have warned that Namibia faces a defining test as it moves closer to oil production, arguing that discoveries and foreign investment alone will mean little unless the sector translates into jobs, skills and economic opportunities for ordinary Namibians. The warnings were raised at the launch of the fourth Namibia Oil and Gas Conference and Exhibition, where the theme "From Decision to Dividend: Making Namibia's Oil Work for Namibians" signals a shift from celebrating offshore discoveries to converting petroleum wealth into jobs, business opportunities and skills development.
17 June 2026 · Windhoek Observer →
Namibia's ministry of industries, mines and energy announced plans to remove the fuel premium charged to consumers for the past four years by implementing a Bulk Petroleum Import Coordination System that will allow wholesalers to coordinate imports and benefit from economies of scale, with minister Modestus Amutse saying the move will lower fuel costs while ensuring stable petroleum supply.
17 June 2026 · Windhoek Observer →
The Economic Association of Namibia will conduct a study measuring how ready Namibian businesses are to engage with the oil and gas sector, with results to be unveiled at this year's oil and gas conference and an official report issued before year-end. A previous August 2024 survey identified capital, bureaucracy, and shortage of skilled people as roadblocks to Namibian business integration in the sector.
16 June 2026 · The Namibian →
The government awarded a three-month fuel supply arrangement worth an estimated N$7.2 billion to international energy trader Vitol, intensifying scrutiny of governance at state-owned oil company Namcor, which lacks a substantive managing director. Critics claim Namcor submitted a cheaper proposal, raising questions about confidence in the company's operational capacity, though Namcor's board chairperson denied operating in a leadership vacuum.
16 June 2026 · Windhoek Observer →
NAMCOR has defended its coordinated fuel procurement arrangement as commercially beneficial and aligned with national objectives, citing the need to balance affordability, security of supply, and sustainability while rebuilding financial strength after recent difficulties.
13 June 2026 · Informanté →
Namcor says awarding Vitol a three-month fuel supply contract is "commercially beneficial" and aligned with national objectives, following concerns from parliamentarians and a former managing director that the deal sidelined the state oil company. Namcor cited working capital limitations and previous financial weaknesses requiring N$1.2 billion in government support in April 2024, and additional N$401 million in July and August 2025.
12 June 2026 · The Namibian →
Energy minister Modestus Amutse told parliament that international oil trader Vitol was selected to supply fuel to Namibia for three months because it required no government guarantees, whereas state oil company Namcor and other bidders needed guarantees the government was unwilling to provide. Vitol will supply fuel at the basic fuel price the government calculates monthly.
10 June 2026 · The Namibian →
The government faced criticism in the National Assembly for awarding Vitol Bahrain a N$7.2-billion emergency fuel contract while bypassing Namcor. Opposition and former officials raised concerns that the arrangement could jeopardise fuel security and undermine the downstream fuel sector's competitiveness, while the prime minister said Cabinet discussions on the matter are ongoing.
10 June 2026 · The Namibian →
Shell, alongside partners QatarEnergy and Namcor, announced an oil discovery from the Merlin-1X exploration well in PEL 39 in the Orange Basin. Namcor said the well has delivered good reservoir quality, light oil and limited associated gas, making it the best result of ten wells drilled in the licence so far.
10 June 2026 · The Namibian →
Canadian oil and gas company ReconAfrica has commenced production testing at its Kavango West 1X discovery well in Namibia's Damara Fold Belt, in partnership with NAMCOR and BW Energy. The programme will test six intervals across two formations covering approximately 420 metres of hydrocarbon-bearing section to assess commercial viability.
10 June 2026 · Windhoek Observer →
Former Namcor acting managing director Maureen Hinda-Mbuende has criticised the government's award of a N$7.2 billion three-month fuel supply contract to Vitol, saying the deal is "counter-productive and monopolistic" and will damage the downstream fuel sector's long-term competitiveness. Hinda-Mbuende claims Namcor offered a cheaper deal and that Vitol's ownership of Shell and Engen service stations creates conflicts of interest that could harm competitors.
9 June 2026 · The Namibian →
Minister of Industries, Mines and Energy Modestus Amutse denied that Vitol Bahrain's appointment as sole fuel supplier to Namibia for three months was illegal, responding to AR leader Job Amupanda's claim that the arrangement violates the Petroleum Products and Energy Act, which requires fuel importers to hold a wholesale licence and be registered in Namibia.
4 June 2026 · Informanté →
As TotalEnergies and other companies approach final investment decisions on Orange Basin projects before 2026, the oil and gas sector will begin broad procurement across raw materials, infrastructure, and services. However, most Namibian small and medium enterprises are not yet positioned to compete for these opportunities.
3 June 2026 · The Namibian →
Mathews Hamutenya has denied having political connections to State House or involvement in the government's decision to appoint Vitol as Namibia's sole fuel supplier, though his son recently bought 52 service stations and Hamutenya is a partner in a storage facility with Vitol. The Independent Patriots for Change have linked Hamutenya to what they describe as a "conglomerate at the centre of Namibia's petroleum oil takeover."
2 June 2026 · The Namibian →
The Ministry of Industries, Mines and Energy has awarded Vitol an exclusive fuel supply contract for July to September, saying the company's offer to supply fuel at standard price without extra charges or public subsidy distinguished it from other bidders, whose proposals included additional conditions.
1 June 2026 · The Namibian →
Namibian oil and gas investor Knowledge Katti has issued a statement supporting the Petroleum Amendment Bill and the proposed Upstream Petroleum Unit in the Office of the President, arguing the reforms are necessary to strengthen oversight, attract investment, and accelerate Namibia's transition to oil production.
12 May 2026 · Informanté →
Knowledge Katti has urged Parliament and national leaders to support the creation of the Upstream Petroleum Unit (UPU) and the Petroleum Amendment Bill, arguing these reforms are necessary to help Namibia transition from oil exploration to production and address long-standing governance challenges in the sector.
11 May 2026 · Windhoek Observer →
Namibia's offshore oil and gas sector continues to draw international interest, with a hydrocarbon licence map showing growing exploration activity across coastal basins and frontier areas. Multiple international oil companies hold exploration licences, with newly allocated blocks involving companies such as Baobab Energy, Elephant Oil, and others, while the offshore Orange Basin remains the main focus following recent major oil discoveries.
8 May 2026 · Windhoek Observer →