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
National Petroleum Corporation of Namibia — state-owned entity overseeing upstream petroleum development amid major offshore oil discoveries and fraud allegations.
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The Namibian
NAMCOR owes N$1.1 billion to Gunvor Group
“Namcor owes N$1,1 billion to Gunvor Group, an international company that sells oil and other commodities.”
Cabinet rejects Namcor bailout proposalThe Namibian
Namcor made N$60 million payment to Enercon as part of transaction
“Central to the investigation is a N$60 million payment Namcor made to Enercon last year as part of a transaction, which would have seen the national oil parastatal take over the fuel supply contract and related infrastructure business with the Namibian Defence Force (NDF).”
Shiimi questions Namcor, Enercon N$60m dealThe Namibian
NAMCOR is investigating transactions totalling about N$300 million involving a private company that supplies fuel and infrastructure to the military
“The National Petroleum Corporation of Namibia (Namcor) is investigating transactions totalling about N$300 million involving a private company that supplies fuel and infrastructure to the military.”
Namcor probes botched N$60m military oil deaThe Namibian
The Namcor board confirmed that Ndeunyema has expressed intention to step down
“The acting managing director of the National Petroleum Corporation of Namibia, Shiwana Ndeunyema, has submitted his intention to step down from the position, the Namcor board confirmed on Thursday.”
Ndeunyema steps down as Namcor MDThe Namibian
Paulus Noa accused the Namcor board of overzealously gunning for the state oil company's MD
“This week, Noa went overboard and accused the Namcor board of overzealously gunning for the state oil company's MD, Immanuel Mulunga, who defied a board decision to pay US$6,7 million (N$100m in 2021) to Angolan state oil company Sonangol.”
ACC Stands for Anti-Corruption Cover-upThe Namibian
Namcor agreed to pay Jennifer Hamukwaya N$1.6 million in departure settlement
“The National Petroleum Corporation of Namibia (Namcor) has agreed to pay its finance executive, Jennifer Hamukwaya, N$1,6 million to leave the company.”
Namcor to pay executive N$1,6m in departure settlement agreementThe Namibian
Namcor paid N$100 million to Sungara Energies for two Angolan oil blocks
“The Namibian in March reported that the petroleum company paid N$100 million to Sungara Energies, a London-based company which Namcor, Petrolog Energies and Sequa Petroleum UK jointly own.”
Namcor urges patience on N$100m transactionThe Namibian
NAMCOR awarded N$1 billion contract to Fullbright Investments and Omahooli Solutions for oil depot development
“It was reported that Fulbright Investments and Omahooli Solutions won a N$1 billion contract to build, finance, operate and maintain oil depots for Namcor, the company Matthews was appointed to lead.”
Matthews explains why he declined Namcor offerThe Namibian
NAMCOR announced Otto Shikongo's appointment as board director member
“The state-owned fuel company announced this in a statement on Tuesday.”
Former mining executive appointed as Namcor directorThe Namibian
Namcor's board confirmed reinstatement demands by Mulunga
“The state-owned petroleum company Namcor's board has confirmed the demands made by its suspended managing director, Imms Mulunga, to be reinstated.”
Namcor board confirms Mulunga's reinstatement demandsBank Windhoek has brought a summary judgment application against businessman Malakia Elindi to recoup over N$2.7 million used to purchase a luxury BMW vehicle. Elindi, arrested in July 2025 alongside his brother in a Namcor fraud case alleging N$400 million in losses, has faced mounting creditor claims including prior court orders totalling millions in outstanding debts.
3 September 2026 · Informanté →
Bank Windhoek has brought a summary judgment application against businessman Malakia Elindi to recoup over N$2.7 million used to purchase a luxury BMW vehicle. Elindi, arrested in July 2025 alongside his brother in a Namcor fraud case alleging N$400 million in losses, has faced mounting creditor claims including prior court orders totalling millions in outstanding debts.
3 September 2026 · Informanté →
The Presidency has designated the Upstream Petroleum Unit as the regulator of upstream petroleum local content, following Cabinet approval of a new local content policy on 4 August. This represents a shift from an earlier version that gave regulatory powers to the Ministry of Industrialisation, Mines and Energy, a change that has drawn parliamentary concerns about reduced oversight of the natural resource sector.
2 September 2026 · The Namibian →
Namibia has made significant offshore oil discoveries but has not yet begun commercial production. Before counting potential revenue, the country needs serious national dialogue about resource ownership, development, government revenue, realistic expectations, and preventing an oil boom from becoming a resource curse—but Namibians currently lack sufficient understanding of the industry.
21 August 2026 · Windhoek Observer →
Harmattan Energy Limited, a Chevron subsidiary, has agreed to farm out a 17.4 percent participating interest in Petroleum Exploration License 90 in Namibia's Orange Basin to Equinor Energy International AS. The transaction is subject to pre-emption rights and regulatory approvals, with an exploration well scheduled before year-end.
20 August 2026 · Informanté →
The Namibia Oil and Gas Conference 2026 brought together over 1,500 delegates, more than 120 speakers, and over 70 exhibitors to discuss the country's emerging petroleum sector and its contribution to national development, with discussions centred on investment, local content, enterprise development, skills, infrastructure, and financing.
20 August 2026 · Informanté →
Namibia's Cabinet has approved the National Upstream Petroleum Local Content Policy, designed to increase Namibian participation across the petroleum value chain through local business development, employment, skills transfer, and procurement access. The government aims to move from exploration to production between 2026 and 2030, prioritising local employment, suppliers, and skills development.
20 August 2026 · Windhoek Observer →
At the Namibia Oil and Gas Conference 2026, Honourable Modestus Amutse, Minister of Industries, Mines and Energy, called on Namibia to be ready for first oil and to maximise local benefits from the industry, addressing discoveries in the Orange Basin.
19 August 2026 · The Namibian →
Special Advisor Kornelia Shilunga outlined Namibia's vision for converting oil and gas sector decisions into national benefits at the Namibia Oil and Gas Conference 2026.
19 August 2026 · The Namibian →
Namibia's revised public procurement regulations, which came into operation on 4 August 2026, give over 80 public entities greater scope to undertake procurement independently, aiming to reduce administrative delays and improve service delivery. The success of the reform will depend on implementation rather than the regulations themselves, balancing efficiency with transparency and accountability.
19 August 2026 · Windhoek Observer →
More than 80 public entities gain broader procurement authority under Namibia's revised regulations effective August 4, 2026, aimed at reducing administrative delays, decongesting central procurement, and expanding supplier opportunities. The changes raise procurement thresholds to reflect current economic conditions including inflation and currency depreciation.
19 August 2026 · Windhoek Observer →
Reconnaissance Energy Africa has acquired additional pumps, a swabbing unit, and other equipment in the United States for testing at the Kavango West 1X well in northeastern Namibia. The equipment will support a planned horizontal test to assess the production potential of the Huttenberg reservoir, following the recent flow of natural gas and potential liquids to surface from the formation.
19 August 2026 · Windhoek Observer →
The Namibia Oil and Gas Conference and Exhibition officially began on 18 August 2026 in Windhoek (18–20 August), bringing together government, industry leaders, investors, academia, entrepreneurs and civil society to focus on ensuring Namibia's oil and gas growth creates opportunities for local businesses, entrepreneurs, workers and communities.
19 August 2026 · Informanté →
An opinion piece argues that Namibia should prioritize equity ownership in its oil discoveries—particularly Venus, Graff, and Mopane in the Orange Basin—rather than limiting itself to local-content arrangements that only provide wages and services, contrasting this approach with Norway's wealth-building model.
17 August 2026 · The Namibian →
FNB Namibia has expanded its local banking network in Khorixas from two merchants in 2017 to seven CashPlus agents and seven Cashback merchants, allowing residents to withdraw cash, make deposits, and access eWallet services at retailers including Shoprite, Choppies, Caltex, and NamCor without traveling to Outjo or Otjiwarongo.
16 August 2026 · Windhoek Observer →
Shiwana Ndeunyema has been nominated for the 2026 Top 100 Influential Africans in Infrastructure by Powered by Africa, recognised for his leadership in energy, infrastructure governance and national policy. The nomination highlights his 15 years of professional experience and 10-month tenure as Interim Managing Director of NAMCOR amid Namibia's major offshore oil discoveries.
9 August 2026 · Namibian Sun →
Cornelius Cedric Willemse, arrested in July 2025 in connection with an over N$400 million fraud and embezzlement case at the National Petroleum Corporation of Namibia, has filed an application to stop the Prosecutor General's attempt to appeal against his bail grant. Willemse faces 10 charges including corruption and money laundering.
7 August 2026 · Informanté →
A report by the Namibia Investment Promotion and Development Board and the International Labour Organization warns that Namibia currently has only about 45% of the skills required to support its emerging oil and gas sector, with major offshore discoveries by Shell, TotalEnergies, and Galp Energia expected to drive first oil production around 2029 or 2030. The report highlights a mismatch between skills produced by local education and training institutions and the specialized competencies demanded by the industry.
1 August 2026 · Informanté →
The National Petroleum Corporation of Namibia has reaffirmed its support for the fourth Namibia Oil and Gas Conference scheduled for 18–20 August, with discussions focused on investment, industry collaboration, and the future of Namibia's emerging oil and gas sector.
31 July 2026 · The Namibian →
The Independent Patriots for Change has called on the government and state-owned Namcor to provide full transparency on Namibia's offshore petroleum developments, particularly regarding Galp's transaction with TotalEnergies, which received regulatory approval in July. The IPC emphasised that Namcor's financial obligations, development exposure, and revenue expectations must be clarified.
31 July 2026 · Windhoek Observer →
Namcor's executive for upstream development said the planned Venus offshore oil project could create about 12,000 jobs and inject more than N$36 billion into Namibia's economy, with the project preparing to enter the development phase after moving beyond exploration.
28 July 2026 · New Era →
The Namibian claimed several honours at the 2026 Namibian Journalism Awards, organised by the Editors' Forum of Namibia. Maria Kaalushu from the Namibian Broadcasting Corporation won journalist of the year for her investigative report 'Land Scammers' and also received the fraud and cybercrime transparency award for the same piece.
27 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 →