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.
Key points drawn from coverage. Tap a point to see the original sentence.
The Namibian
NAMCOR is set to undergo leadership change with conclusion of Immanuel Mulunga's disciplinary hearing and move toward Ebson Uanguta as substantive leader
“Key changes include the conclusion of the disciplinary hearing of suspended Namcor managing director Immanuel Mulunga and advocating for interim managing director Ebson Uanguta to become the substantive leader of the company.”
New Namcor board to trigger leadership changeThe Namibian
Namcor received N$1.2 billion bailout from government
“So, the government has once again decided to put taxpayer funds on the line with a N$1,2 billion bailout for the scandal-ridden state oil company Namcor, neh?”
Of State Shareholding in OilThe Namibian
Namcor owed suppliers nearly N$2 billion last year
“Namcor reached a point last year of owing its suppliers nearly N$2 billion, mainly due to careless management and directors who were sleeping on duty, if not outright complicit in the mismanagement of the state-owned entity.”
Of State Shareholding in OilThe Namibian
NAMCOR received N$1,2 billion sovereign guarantee bailout
“Namcor received a sovereign guarantee to the tune of N$1,2 billion.”
Namcor gets N$1,2b Govt bailoutThe Namibian
NAMCOR owed creditors N$1,9 billion as of September 2023
“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 bailoutThe Namibian
NAMCOR has announced Chevron Namibia Exploration Limited will take over 80% stake in PEL 82
“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 licenceThe Namibian
NAMCOR will retain 10% carried interest in PEL 82
“As part of the arrangement, Namcor and Custos Energy will each retain a 10% carried interest.”
Chevron acquires majority stake in Namibian offshore licenceThe Namibian
Namcor says preliminary estimates suggest hydrocarbon figures of 10 billion barrels of oil equivalent or higher in Mopane complex
“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 barrelsThe Namibian
Namcor has undertaken questionable oil exploration deals with Sonangol in which Namibia lost over N$100 million
“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 JokingThe Namibian
NAMCOR holds 10% interest in Petroleum Exploration Licence 83
“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 sectorThe 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 →