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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

NamCor

25 Results / Page 3 of 3

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Namibia

Government Extends N$1.3 Billion Lifeline to Namcor in Financial Rescue Deal

The government has approved a financial rescue plan by allocating N$1.3 billion to assist the financially strained National Petroleum Corporation of Namibia as a short-term solution. Namcor, the national oil parastatal, reported a loss of N$700 million in the previous fiscal year. Despite the Cabinet initially rejecting a bailout proposal in October, Minister of Finance and Public Enterprises Iipumbu Shiimi, in a letter dated November 29, 2023, addressed to Namcor […]

todayJanuary 18, 2024 13

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Local

Namcor announces significant oil discovery in block 2813a (pel83), orange basin, offshore Namibia

The National Petroleum Corporation of Namibia; NAMCOR with 10% carried interest, in conjunction with its partners Galp Energia (80%, operator) and Custos (10%), is excited to announce a significant oil discovery in the Mopane-1X exploration well, situated in the PEL83, Orange Basin, offshore Namibia. Following the initial announcement on January 2, 2024, PEL 83 JV partners have now confirmed the discovery of a substantial column of light oil in high-quality, […]

todayJanuary 10, 2024 15

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Namibia

Criticism Arises as Namcor Spends N$68 Million on Incomplete Organizational Software System

Namcor, the National Petroleum Corporation of Namibia, has invested N$68 million in an operational software system for their organization, which, regrettably, is not fully operational. The corporation entrusted Green Enterprise Solutions with a software tender in January 2020. Their task was to supply, install, implement, test, and activate an enterprise resource planning system, a crucial software tool for managing day-to-day business activities within organizations. According to documents obtained by The […]

todayJanuary 10, 2024 10

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Namibia

Is there a vacancy at NamCor for the position of managing director?

Bank of Namibia Deputy Governor, Ebson Uanguta, is allegedly set to take over as the interim Managing Director of The National Petroleum Corporation of Namibia starting January 2024. The current acting Managing Director, Shiwana Ndeunyema, has been overseeing the position since the suspension of substantive managing director Immanuel Mulunga in April, who faces disciplinary charges and a lawsuit. NamCor Manager Of Marketing, Communications, and Public Relations, Paulo Coelho for his […]

todayDecember 20, 2023 48

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Namibia

National Petroleum Corporation is currently studying an investigation report on internal maladministration

The National Petroleum Corporation of Namibia’s board of directors is currently studying an investigation report on internal maladministration, contributing to the net loss of 700 million Namibian dollars. Namcor is currently facing financial hardships in managing its cash flow and stands with a debt of 1.9 billion Namibian dollars, owed to more than four petroleum suppliers. NamCor's Manager Of Marketing, Communications, and Public Relations, Paulo Coelho.

todayNovember 24, 2023 24

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Local

Unlocking Namibia’s Oil and Gas Potential: Insights from African Energy Week 2023 Presentation by Namcor

Namibian national oil company Namcor is progressing plans to further develop the country’s oil and gas sector to meet ongoing energy demands and to eradicate energy poverty, with the company settings its sights on drilling two gas and oil wells in collaboration with international oil companies in the fourth quarter of 2023 and into the first quarter of 2024. Namcor holds a unique position as both an upstream and downstream […]

todayOctober 19, 2023 11

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