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.
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.
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.
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.
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.
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.
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.
Magistrate Jozanne Klazen granted businessman Panduleni Hamukwaya bail of N$200,000 in connection with alleged bribery linked to NAMCOR misconduct, citing the lengthy period before trial commencement and his substantial ties to the community, including property ownership and dependents, while imposing stringent reporting conditions.
Panduleni Hamukwaya, whose business allegedly received proceeds linked to criminal activity at state-owned Namcor, has been granted bail of N$200,000 by a Windhoek magistrate. Hamukwaya and his wife, a former Namcor finance executive, have been in custody for eight months; the court considered that he would become sole caregiver to their minor children if released.
Fourteen individuals charged with fraud and corruption at the National Petroleum Corporation of Namibia are scheduled to plead on 21 April after the Windhoek Magistrate's Court postponed their case yesterday to allow further investigations and state preparation. The accused are alleged to have been involved in fraudulent transactions including the sale of filling station assets to a Namcor subsidiary for N$53.2 million and credit limit breaches with fuel companies.
The Namibian Competition Commission has approved Nasan Energies' acquisition of 52 Engen and Shell-branded service stations from Vivo Energy, positioning Nasan as the country's third-largest fuel retailer. The purchase was conditional on divestment to prevent monopolistic control, following concerns about potential connections between Nasan's co-founder Miguel Hamutenya and Vivo's parent company Vitol.