Namibian President Netumbo Nandi-Ndaitwah has reorganized the country’s oil and gas sector, placing it under direct presidential oversight. The move aims to improve efficiency amid increasing international interest in offshore oil discoveries.
The restructuring follows significant exploration activity since TotalEnergies and Shell made initial finds in 2022. While some discoveries have been deemed non-commercial, the potential for oil production remains promising for the sparsely populated nation.
Graham Hopwood, an advisor at Horizon Engage, noted that the president’s decision signals Namibia’s commitment to streamlining dialogue with foreign investors.
Key changes include:
- New leadership: Natangwe Ithete appointed Deputy Prime Minister and Minister of Mines.
- Direct oversight: Oil and gas will now fall under the president’s office.
- Policy goal: Maximize benefits for all Namibians through better resource management.
The reshuffle also included the unexpected removal of Finance Minister Ipumbu Shiimi, a key figure in managing national debt. His replacement, Ericah Shafudah, brings two decades of experience within the finance ministry.
Source: worldoil.com
