South Africa Unveils National Petroleum Company in Bold Energy Independence Move
South Africa has officially launched the South African National Petroleum Company (SANPC) at The Maslow Hotel in Sandton, representing a transformative merger of iGas, PetroSA, and the Strategic Fuel Fund to secure the nation’s energy future.
SANPC Chairperson Sipho Mkhize described the state-owned entity as a “national asset” conceived by President Cyril Ramaphosa’s administration, with strategic discussions underway to convert Durban’s single buoy mooring into a more flexible multi-buoy mooring system. This infrastructure enhancement will reduce dependency on international oil companies while positioning SANPC as an independent terminal operator with equal berth access and robust system integrity.
Minister of Mineral Resources and Energy Gwede Mantashe emphasized that SANPC represents a strategic intervention to drive industrialization, job creation, and inclusive growth while managing strategic oil reserves and rebuilding refining capacity. The company will focus on restoring South Africa’s refining capabilities, including restarting the PetroSA GTL plant in Mossel Bay and reviving the SAPREF Refinery in Durban.
CEO Godfrey Moagi acknowledged Brazil’s Petrobras as inspiration for SANPC’s vision while tailoring the approach to reflect South Africa’s unique realities and aspirations. Mkhize extended an open invitation for partners to join SANPC in building integrated, innovative, and sustainable energy systems across South Africa and the broader African continent.
Source: oilreviewafrica.com