NamCor

Mopane exploration campaign that has yielded promising results

The National Petroleum Corporation of Namibia: NAMCOR (10%) and its partners Galp Energia (80%) and Custos Energy (10%) are pleased to announce the successful completion of the first phase of the Mopane exploration campaign marking a significant milestone in Namibia’s oil and gas sector. The Mopane-1X Well Testing operations revealed substantial oil columns containing light oil in high-quality reservoir sands at two different levels: AVO-1 and AVO-2. This […]

22 April, 2024

Namibia

National Petroleum Corporation Alerts Public to Email Scam

The National Petroleum Corporation of Namibia has issued a warning about a scam involving fraudulent emails purportedly from NamCor. Scammers are using email addresses ending in "namcor-na.com" to trick individuals into paying for Request for Quotation documents. Paulo Coelho, NamCor's Manager of Marketing, Communications, and Public Relations, elaborates on the deceptive scheme.

10 April, 2024

Namibia

Scandal Hits National Petroleum Corporation

The National Petroleum Corporation is reeling from a scandal involving the alleged theft of N$1 million worth of fuel, with four arrests made, including Immanuel Mulunga's nephew. Denzel Mulunga, Simeon Shilongo, Jason Malima, and Graham Platt (46) face charges ranging from theft to money laundering and conspiracy. Notably, Jason Malima is related to Victor Malima, CEO of Enercon, a military contractor in legal dispute with Namcor over a N$60 million […]

15 March, 2024

Namibia

Potential Fuel Theft Valued at Over N$1 Million Discovered at Namibian National Oil Storage Facility

The National Petroleum Corporation of Namibia has identified a potential fuel theft amounting to over N$1 million at the National Oil Storage Facility in Walvis Bay. Loading documents indicate the dispatch of diesel ADO 50 ppm last December and January this year, yet there's no evidence of the product reaching the intended customer site. NamCor's Manager of Marketing, Communications, and Public Relations, Paulo Coelho.

15 February, 2024

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 […]

18 January, 2024

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, […]

10 January, 2024

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 […]

10 January, 2024