The South African National Petroleum Company (SANPC) was unveiled at The Maslow Hotel in Sandton

The state-owned entity is the result of a merger between iGas, PetroSA and the Strategic Fuel Fund (SFF), aiming to secure South Africa's energy future with the revitalisation of strategic infrastructure.

During the launch event, SANPC chairperson, Sipho Mkhize, defined the company as a "national asset" that has been the brainchild of the President Cyril Ramaphosa-led government. He informed that strategic discussions are underway with the Ministers of Transport, Mineral Resources and Energy, and Forestry, Fisheries and the Environment to convert the single buoy mooring (SBM) in Durban into a more flexible multi-buoy mooring (MBM). 

This will reduce dependency on international oil companies while ensuring supply, making SANPC an independent terminal operator with equal berth access and robust system integrity.

The Minister of Mineral Resources and Energy, Gwede Mantashe, said, “This launch is a strategic intervention – SANPC will drive industrialisation, job creation and inclusive growth. It will manage our strategic oil reserves, rebuild our refining capacity, and ensure energy sovereignty while contributing to regional energy security.” 

He emphasised the urgency of restoring South Africa’s refining capabilities and reiterated government’s support for SANPC’s efforts to restart the PetroSA GTL plant in Mossel Bay and revive the SAPREF Refinery in Durban.

CEO Godfrey Moagi acknowledged the majority state-owned Brazilian oil and gas company, Petrobras, as an inspiration behind SANPC’s vision while "tailoring our approach to reflect South Africa’s realities and aspirations”.

“SANPC is open for business. We invite partners to join us in building integrated, innovative, and sustainable energy systems across South Africa and the continent,” said Mkhize.

With two new sandstone leads identified from petroleum exploration licence (PEL) 94 in Block 2011A offshore Namibia following an independent geoscience evaluation, Geo Exploration Limited has confirmed a materially de‑risked resource base  

The sandstone leads are Emerald (in the Albian) and Beryl (in the Cenomanian), which has a combined value of 792 MMbbl of unrisked gross mean prospective resources, with 726 MMbbl attributable to Emerald and 66 MMbbl to Beryl. 

Geo Exploration, which holds a 78% working interest in PEL94, is anticipating an yield of approximately 4.31 billion barrels.

Seismic mapping has delineated robust, dip and fault‑bounded structural closures. The seismic data interpretation has also highlighted direct hydrocarbon indicators in the area—including gas
chimneys and flat spots—providing strong evidence for an active petroleum system, migration of hydrocarbons throughout the section and therefore increasing the chance that the leads are charged with oil. The water depth is c.750 m at the location of the leads identified. 

The promising seismic results have encouraged the company to move ahead with potential farm-out agreements.

Omar Ahmad, chief executive officer of Geo Exploration, said, "Before commenting on these exciting results, I would first like to congratulate Her Excellency Dr Netumbo Nandi-Ndaitwah on her appointment as President of Namibia and Victoria Sibeya on her appointment as Acting Managing Director of the National Petroleum Corporation of Namibia (NAMCOR). I would like to thank Petroleum Commissioner Maggy Shino, the Namibia Ministry of Mines and Energy and our partners for their continued support to Geo.

Today's resource upgrade underscores the tremendous potential we see in PEL 94 and the strong conviction we have in our Namibian licence. Our technical team has done a terrific job delivering
new, material leads on the eastern side of the block. With excitement building across Namibia—and particularly in the Walvis Basin—we are actively progressing farm-out discussions to secure the best outcome for our shareholders"

Subsea 7 has received a subsea contract in West Africa

This contract will see the company transporting and installing flexible pipelines, umbilicals, and associated subsea components for the connection of a floating production, storage and offloading (FPSO) vessel. It will also cover the pre-laying activities for an upcoming drilling campaign.

Project management and engineering work will begin immediately at Subsea7’s offices in Sutton, UK and Suresnes, France, and offshore activity is expected to start in 2026.

Jerome Perrin, Vice President Africa, Middle East, and Turkiye for Subsea7, said, “Our close and agile collaboration with our clients allows us to make possible cost-effective and reliable offshore solutions for their needs. We are pleased to be able to support this client in executing such a strategically important project in West Africa. ”

South Africa has proposed importing liquefied natural gas from the United States over a 10-year period, likely affected by the US' President Donald Trump's tough tariff measures

The development was announced via a document signed by Minister in the Presidency, Khumbudzo Ntshavheni. It said that South Africa's import limits range around 75 to 100 mn cu/m of LNG per year from the US which remains the leading LNG exporter.

This move is believed to unlock for South Africa approximately US$900mn to US$1.2bn in trade per annum and US$9bn to US$12billion for 10 years based on applicable price.

The arrangement was presented by South Africa during President Cyril Ramaphosa's recent visit to the White House.

Ntshavheni, who was part of the government delegation to Washington, said that South Africa is keen on a US collaboration in technologies, including fracking, to advance gas production in South Africa. 

While Mozambique currently serves as South Africa's primary source of gas import, its supply reliability might not remain as solid down the line. The potential deal with the US can help fill this gap.

South Africa is said to have considerable gas resources in the Karoo region, but it remains off limits by a moratorium on shale gas exploration due to environmental concerns. 

"(South Africa) and the US will negotiate an arrangement to facilitate LNG imports from the US at the appropriate price. This will not replace our current suppliers of gas but complement those supplies," said Ntshavheni.

A thriving local refining sector requires a skilled workforce, which translates into job creation across various levels, from engineers and technicians to construction workers and administrative staff

The development of local refineries can also stimulate growth in related industries, such as transportation, logistics and service sectors, further amplifying employment opportunities.

Building a robust petrochemicals industry enables countries to diversify their economies. Petrochemicals serve as essential inputs for numerous sectors, including agriculture (fertilisers), manufacturing (plastics), and pharmaceuticals. By investing in this industry, countries can reduce their reliance on a single commodity – oil – and create a more resilient economic structure.

By minimising crude oil exports and focusing on value addition, nations can create jobs and stimulate economic growth. This comprehensive strategy not only enhances national wealth but also contributes to the overall well-being of African populations, aligning economic success with social progress.

The concept of ‘profit versus purpose’ serves as a guiding principle in the ongoing debate about energy policy. This framework integrates economic objectives with social and environmental goals, demonstrating that financial success and societal benefit are not mutually exclusive. By prioritising investments that address energy poverty and promote social equity, businesses can contribute to the continent's sustainable development while remaining economically viable.

Investing in energy solutions in underserved regions presents unique challenges, including high initial costs and limited access to traditional financing. However, these challenges also create opportunities for innovative financing mechanisms. Multilateral finance institutions and climate finance initiatives can play the central role in mobilising resources and sharing financial burdens.

Shared value mechanisms allow companies to align their business operations with social impact goals, unlocking new market opportunities while addressing critical issues like energy access. Investing in off-grid renewable energy solutions, for instance, can enable companies to tackle energy poverty while expanding their market reach.

The pathway to unlocking Africa’s oil and gas potential lies in balancing effective governance with the principles of profit for purpose. African governments must create policies that not only attract sustainable investment but also prioritise the welfare of their citizens.

By implementing transparent frameworks, favourable fiscal terms, and innovative financing models, African countries can harness their natural resources for the greater good. This collective responsibility to promote sustainable development will ensure that the benefits of oil and gas investments extend beyond profit, enriching communities and driving long-term economic growth across the continent. 

This is the last of a two-part article written by Taona Kokera, director - head of infrastructure finance advisory at Forvis Mazars in South Africa

Organised by the Petroleum Authority of Uganda (PAU), the third Civil Society Organisation (CSO) Conference on Oil and Gas saw key stakeholders pledge enhanced collaboration and mutual understanding to advance best practice in business and human rights in Uganda’s extractive industry 

Ernest Rubondo, executive director of the PAU, said, "We’ve made significant progress thanks to stakeholder alignment across most activities. However, differences have emerged – particularly around business, social, and human rights perspectives. It’s crucial that even in disagreement, we foster constructive engagement that promotes learning without hindering Uganda’s socio-economic development."

"As we advance in resource extraction, human rights, environmental sustainability, and equitable benefit sharing are non-negotiable. Our development strategy must integrate social safeguards, uphold dignity, and promote justice, especially for communities in project areas," said Frank Mugisha, Ag. Commissioner for the Petroleum Department at the Ministry of Energy and Mineral Development (MEMD).

TotalEnergies’ general manager, Philippe Groueix, highlighted the company's agricultural programmes to support local communities as they undertake the Tilenga Project.

“At TotalEnergies, we remain committed to a culture of active listening, learning and continuous improvement. We are not here to meet minimum standards – but to strive to set new benchmarks in the responsible energy development of the Tilenga Project,” he said.

John Bosco Habomugisha, deputy managing director of EACOP, said, “We value the role of civil society in promoting accountability and compliance. EACOP is committed to strengthening collaboration – on worker rights, grievance mechanisms, gender-responsive policies, and Business and Human Rights awareness.”