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Monday, 8 June 2026
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Monday, 8 June 2026
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Namibian press · Organization

NAMCOR

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

NAMCOR — Namibia's state-owned National Petroleum Corporation, at centre of major fraud and corruption case involving over N$400 million in alleged losses.

2022-04-142026-06-08
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What’s been said

Key points drawn from coverage. Tap a point to see the original sentence.

  1. May 2024

  2. The Namibian

    NAMCOR owed creditors N$1,9 billion as of September 2023

    Source

    “As of September 2023, Namcor owed its creditors N$1,9 billion – a decrease of N$600 million from N$2,5 billion the parastatal owed in May 2023.”

    Namcor gets N$1,2b Govt bailout
  3. April 2024

  4. The Namibian

    NAMCOR has announced Chevron Namibia Exploration Limited will take over 80% stake in PEL 82

    Source

    “The National Petroleum Corporation of Namibia (Namcor) has announced that United States oil major Chevron Namibia Exploration Limited (CNEL) will take over an 80% stake in petroleum exploration licence 82 (PEL 82) in the Walvis Basin, offshore Namibia.”

    Chevron acquires majority stake in Namibian offshore licence

  5. The Namibian

    NAMCOR will retain 10% carried interest in PEL 82

    Source

    “As part of the arrangement, Namcor and Custos Energy will each retain a 10% carried interest.”

    Chevron acquires majority stake in Namibian offshore licence

  6. The Namibian

    Namcor says preliminary estimates suggest hydrocarbon figures of 10 billion barrels of oil equivalent or higher in Mopane complex

    Source

    “The National Petroleum Corporation of Namibia (Namcor) and its partners, Galp Energia and Custos Energy, say preliminary estimates suggest hydrocarbon figures of 10 billion barrels of oil equivalent or higher within the Mopane complex alone before further exploration and appraisal wells are drilled.”

    Oil discovery of Namcor, partners likely at 10b barrels
  7. March 2024

  8. The Namibian

    Namcor has undertaken questionable oil exploration deals with Sonangol in which Namibia lost over N$100 million

    Source

    “We haven't even brought in the questionable so-called oil exploration deals Namcor has undertaken with Sonangol (Angola's state oil firm) in which Namibia seems to have lost more than N$100 million.”

    President Mbumba Must Be Joking
  9. February 2024

  10. The Namibian

    NAMCOR holds 10% interest in Petroleum Exploration Licence 83

    Source

    “Galp operates Petroleum Exploration Licence 83 with an 80% interest, while the National Petroleum Corporation (Namcor) holds 10% and Custos Energy, half owned by Sintana, has a 10% stake.”

    Galp makes huge investments in Namibia’s oil sector
  11. January 2024

  12. The Namibian

    NAMCOR will receive a N$1.3 billion government bailout

    Source

    “As the Brave Warriors sent Namibia flashing on the world map, confirmation came through that the government will provide Namcor with a N$1,3 billion bailout.”

    Fix Stadiums NOW!

  13. The Namibian

    NAMCOR received N$1,3 billion government bailout

    Source

    “The government has agreed to provide N$1,3 billion to bail out the financially crippled National Petroleum Corporation of Namibia (Namcor) as a short-term measure.”

    Namcor gets N$1,3 billion Goverment bailout

  14. The Namibian

    NAMCOR made N$700-million loss in last financial year

    Source

    “The national oil parastatal made a N$700-million loss in the last financial year.”

    Namcor gets N$1,3 billion Goverment bailout

  15. The Namibian

    NAMCOR signed a two-year agreement with Galp Energy to enhance skills and competencies in upstream and downstream sectors agreement with Galp Energy to enhance skills and competencies in upstream and downstream sectors

    Source

    “THE National Petroleum Corporation of Namibia (Namcor) and Portuguese energy giant Galp Energy have signed a two-year agreement to enhance the skills and competencies in both upstream and downstream sectors.”

    Namcor and Portuguese energy giant to collaborate on capacity building
Business

Minister denies illegality of exclusive fuel supply mandate to Vitol

The News

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.

Why it matters

Minister's defence of Vitol fuel supply contract against legality challenges highlights ongoing regulatory and transparency questions in energy procurement.

4 June 2026 · Informanté →

Thursday 4 June

  1. Minister denies illegality of exclusive fuel supply mandate to Vitol

    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 →

Wednesday 3 June

  1. Most SMEs unprepared for oil sector procurement opportunities

    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 →

Tuesday 2 June

  1. Businessman denies political role in Namibia fuel supply deal

    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 →

Monday 1 June

  1. Vitol awarded three-month exclusive fuel supply deal

    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 →

Tuesday 12 May

  1. Oil and gas investor backs petroleum reform bill

    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 →

Monday 11 May

  1. Businessman calls for Parliament backing of oil sector reforms

    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 →

Friday 8 May

  1. Namibia's offshore oil and gas sector attracts international exploration interest

    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 →

Wednesday 29 April

  1. New suspect in NAMCOR fraud case appears in court

    Semeon Nangolo Handjene and his company Oshali Fuel Centre CC have been added as accused 21 and 22 in the NAMCOR fraud and corruption case. Handjene is charged with theft, money laundering, and contravening the Anti-Corruption Act; he allegedly received N$1.2 million via his company on 21 July 2022 from Eco Trading CC, owned by fugitive Victor Malima, in connection with fraud linked to fuel storage facilities sold to NAMCOR.

    29 April 2026 · Informanté →

Wednesday 22 April

  1. 14 individuals, six entities plead not guilty in Namcor fraud trial

    Fourteen individuals and six corporate entities pleaded not guilty to 75 fraud and corruption charges in the Windhoek Magistrate's Court, with allegations including a N$53.2 million filling station transaction and N$331 million in unpaid fuel supplied to three entities. The case was postponed to 28 October pending a prosecutor general decision.

    22 April 2026 · The Namibian →

Tuesday 21 April

  1. Twenty Namcor fraud and money laundering accused plead not guilty

    Twenty accused persons including former Namcor executives and businessmen appeared in Windhoek Magistrate's Court and pleaded not guilty to fraud, corruption, and money laundering charges ranging from one to 75 counts. The matter was postponed to 28 October 2026 pending the Prosecutor General's decision on whether to proceed to trial; the accused were arrested in July 2025 following allegations they defrauded Namcor of over N$400 million.

    21 April 2026 · Informanté →

Saturday 18 April

  1. Namibia's oil and gas sector advances toward development phase

    Namibia's oil and gas industry has shifted from early-stage exploration toward appraisal and development planning, with major international operators like Shell, TotalEnergies, and Galp positioning the country as an emerging regional energy hub. The sector is projected to contribute up to 5.8% to GDP annually during production, with first oil and gas expected between 2029 and 2030, provided governance and local content policies are strengthened.

    18 April 2026 · Informanté →

Friday 17 April

  1. Legal expert explains differing bail outcomes in Namcor, Fishrot cases

    According to legal researcher Brian Ngutjinazo, the contrasting bail decisions in the Namcor and Fishrot corruption cases reflect consistent application of Namibia's Criminal Procedure Act rather than inconsistency. In Namcor, courts found insufficient grounds for detention, while in Fishrot, evidence of alleged witness interference and the scale of organized corruption justified continued detention under the law's test of whether the interests of justice permit release.

    17 April 2026 · New Era →

Thursday 16 April

  1. Azule Energy plans 2027 investment decision in Namibia

    Azule Energy, operator of PEL 85, targets a final investment decision by late 2027 and will establish an office in Namibia, with Giovanni Aquilina appointed as managing director for the country.

    16 April 2026 · The Namibian →

Tuesday 14 April

  1. Opposition demands transparency over dismissed minister

    IPC president Panduleni Itula called on President Nandi-Ndaitwah to publicly explain why former deputy prime minister and industries minister Natangwe Ithete was dismissed last year, citing concerns about government transparency and corruption despite the president's constitutional authority to dismiss officials without explanation.

    14 April 2026 · The Namibian →

Sunday 12 April

  1. Last Namcor fraud accused Austin Elindi granted N$50,000 bail

    Austin Elindi, director of fuel companies alleged to have defrauded the National Petroleum Corporation of Namibia (Namcor) of millions of namibian dollars, was granted bail in the Windhoek Magistrate's Court after spending more than eight months in custody. He is the last of 14 accused persons in the case to be released on bail and faces charges including fraud, corruption, and money laundering related to fuel sales and unpaid credits.

    12 April 2026 · The Namibian →

Friday 10 April

  1. Namcor fraud suspect Austin Elindi granted N$50,000 bail

    Businessman Austin Elindi, accused in a National Petroleum Corporation corruption case involving bribes and fraudulent fuel deliveries, was granted bail of N$50,000 in Windhoek Magistrate's Court on Thursday, after nearly nine months in custody since his July 2025 arrest by the Anti-Corruption Commission. Elindi must report to the ACC office twice weekly, surrender travel documents, and remain in the Windhoek district pending his next court appearance on 21 April.

    10 April 2026 · The Namibian →

  2. Petrovena set to receive Orange Basin oil exploration licence

    Petrovena Energy has been issued an award letter to enter into a petroleum agreement and be granted a licence for oil block 2812Ab in the Orange Basin, according to its Canadian partner Oregen Energy. If granted, Petrovena will expand its presence in the basin near existing discoveries of Venus and Mopane, while Oregen considers investing in Petrovena to gain access to the block.

    10 April 2026 · The Namibian →

Wednesday 8 April

  1. Government restricted from sharing oil and gas sector information

    Civil society organisations have accused the government of lack of transparency on oil and gas information access, with various agencies declining to provide petroleum licence details and citing organisational restructuring. Multiple officials and institutions have refused to respond to inquiries, prompting warnings that withholding critical sector information undermines public trust and the right to know.

    8 April 2026 · The Namibian →

Thursday 2 April

  1. Fuel panic buying surges ahead of April price increases

    Motorists queued at service stations across Namibia yesterday to fill up before fuel prices rise by N$2.50 per litre for petrol and N$4 per litre for diesel on 1 April, prompting panic buying, hoarding, and complaints that wholesalers are withholding contracted supplies to profit from higher prices. The government says sufficient stocks exist and has reduced levies by 50%, but restrictions on bulk purchases by retailers like Agra are disrupting farming operations.

    2 April 2026 · The Namibian →

Wednesday 1 April

  1. Namibia reviews TotalEnergies' Venus oil development plan

    The Namibian government has begun reviewing a field development plan from TotalEnergies for the Venus oil project, a key step toward formal negotiations and investment approval. The project is projected to generate between N$127 billion and N$229 billion in government revenue over 25 years, potentially accounting for 7.9% to 14.2% of total government income.

    1 April 2026 · The Namibian →

Tuesday 31 March

  1. High Court grants bail to six Namcor fraud accused

    The High Court upheld appeals by six accused in the Namcor fraud and corruption case, granting them bail with restrictions on travel and movement. Judge Philanda Christiaan cautioned that courts should avoid informal labels like "Fuelrot" in discussing criminal cases, as such terminology can imply prejudgement and undermine public trust in judicial impartiality.

    31 March 2026 · The Namibian →

Monday 30 March

  1. High Court overturns bail refusal in Namcor fraud case

    Windhoek High Court judges found that a magistrate misdirected himself in refusing bail to six individuals accused in a purported N$400 million fraud at Namcor, citing selective assessment of evidence and failure to consider individualised circumstances and mitigating bail conditions. The six appellants—Peter and Malakia Elindi, Immanuel Mulunga, Olivia Dunaiski, Leo Nandago, and Jennifer Hamukwaya—were granted bail ranging from N$20,000 to N$50,000, subject to travel restrictions and regular reporting requirements.

    30 March 2026 · New Era →

  2. Minister confirms adequate fuel stocks despite Middle East tensions

    Minister Modestus Amutse briefed the media that Namibia's fuel supply remains stable with adequate stocks to meet demand for one to two months, and that the main risk from global geopolitical tensions is price-related rather than supply-related. The government has reduced fuel levies by 50% and the National Energy Fund will absorb under-recoveries of approximately N$500 million monthly for at least three months to protect consumers from price volatility.

    30 March 2026 · The Namibian →

Friday 27 March

  1. NOSF enters new phase with market-based fees, wider access

    Namibia's National Oil Storage Facility, a N$6.5 billion investment in Walvis Bay designed to hold 75 million litres of fuel, is undergoing policy reforms to establish market-related tariffs and attract local entrepreneurs to its storage capacity. The facility aims to balance its role as a strategic energy buffer against global supply disruptions with expanded commercial participation and improved operational sustainability.

    27 March 2026 · New Era →

  2. Namibia's fuel storage facility prepares for local business access

    The National Oil Storage Facility handles all petroleum products entering Namibia and is considering opening storage capacity to local entrepreneurs, currently hosting only one private company. The facility, which requires strict international safety and quality standards, is reviewing its fees to provide competitive rates and attract applications from Namibian businesses seeking storage for diesel, ULP, and jet fuel.

    27 March 2026 · New Era →

  3. High Court grants bail to six in Namcor fraud case

    Six individuals charged in the National Petroleum Corporation of Namibia fraud and corruption case have been granted bail by the Windhoek High Court after successful appeals, with the court finding material misdirections in the magistrate's earlier refusal. The accused include former Namcor executives and businessmen and are subject to strict conditions including movement restrictions and reporting requirements.

    27 March 2026 · The Namibian →

  4. High Court grants bail to six in Namcor corruption case

    A High Court appeals panel has granted bail to six accused persons in the Namcor fraud and corruption case, including former Namcor executives Jennifer Hamukwaya and Immanuel Mulunga, after they appealed against a Magistrate's Court refusal. Bail amounts range from N$20,000 to N$50,000, with conditions requiring reporting to the Anti-Corruption Commission twice weekly, surrendering travel documents, and not interfering with investigations.

    27 March 2026 · Informanté →

  5. NAMCOR welcomes production testing start at Kavango West

    NAMCOR's upstream subsidiary has welcomed the commencement of production testing at the Kavango West-1X discovery well in PEL 73, onshore Namibia, a joint venture operated by ReconAfrica (70%) alongside partners BW Kudu (20%) and NAMCOR E&P (10%). Testing will span six targeted zones across the Huttenberg and Elandshoek formations through the second quarter of 2026.

    27 March 2026 · Informanté →

Wednesday 25 March

  1. Panduleni Hamukwaya granted N$200,000 bail in Namcor fraud case

    Magistrate Jozanne Klazen granted bail to oil-rot fraud and corruption accused Panduleni Ndimba Hamukwaya, cited his parental responsibility for three minor children left without care as both he and his wife Jennifer remain in custody. Hamukwaya faces four charges under the Anti-Corruption Act, money laundering charges, and theft allegations related to alleged fraud at the National Petroleum Corporation of Namibia.

    25 March 2026 · New Era →

Tuesday 24 March

  1. Namcor fraud case: eighth accused Hamukwaya granted bail

    Panduleni Hamukwaya, eighth accused in an alleged Namcor fraud and corruption case, has been granted N$200,000 bail after eight months in custody, on condition he surrender his passport and report regularly to investigating officers. He is charged with fraud, money laundering, and theft relating to N$1.55 million allegedly received as gratification from an asset purchase agreement, which he claims was investment in a wildlife farming project.

    24 March 2026 · The Namibian →

NAMCOR — Namibian press coverage · Namibia Minute