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

Namibia Petroleum Corporation

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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.  

todayFebruary 15, 2024 81 2

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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 14

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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 13

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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 28

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