The Oil “Curse” and Namibia’s Critical Crossroads

OPINION By: Barney Hamse In 2014, Zack Beauchamp wrote an article titled, The Oil Curse: How Black Gold Makes Countries More Authoritarian, Corrupt, and Violent. This concept has since been discussed extensively, and numerous reports over the years have highlighted the adverse impacts of oil wealth on nations, particularly in Africa. Namibia is now at a critical juncture, and it must tread carefully to avoid the pitfalls that many oil-rich countries […]

December 3, 2024 151

Local

NAMCOR UPDATE ON UPSTREAM OPERATIONS

Windhoek, Namibia — The National Petroleum Corporation of Namibia (NAMCOR) provides an update on the country's ongoing upstream activities. NAMCOR Exploration and Production (E&P), in collaboration with joint venture partners in PELs 56, 83, 85, and 90, will commence drilling four exploration and appraisal wells in the Orange Basin, offshore Namibia, between Q4 2024 and Q1 2025. This expansion in upstream oil and gas activities follows successful discoveries since 2022, […]

November 12, 2024 8

Business / Economics

Public interest grows following recent offshore oil discoveries

The Namibia Petroleum Operators Association hosted a press seminar to help the public better understand the country’s oil and gas industry. Recent offshore discoveries have increased public interest, making it important to provide clear and accurate information. NAMPOA Chairperson and BW Kudu Country Chairperson, Dr. Klaus Endresen, spoke about the economic challenges that the sector is facing.

September 24, 2024 57

Business / Economics

NamCor signs MoU with Gambian oil company

The National Petroleum Corporation of Namibia has signed a Memorandum of Understanding with the Gambia National Petroleum Corporation to collaborate and strengthen both organisations, according to NamCor's interim managing director, Ebson Uanguta.

August 22, 2024 30

Business / Economics

Windhoek prepares to host Namibia Oil & Gas Conference

As Namibia prepares up for the upcoming Namibia Oil & Gas Conference in Windhoek next week, Shakwa Nyambe, Founder and Managing Partner of SNC Incorporated, has shared his views on the evolving trends within the oil and gas sector. Nyambe mentioned the changes occurring in the financing of oil and gas projects. In addition to financing, Nyambe pointed out the importance of infrastructure development in the oil and […]

August 15, 2024 49

Business / Economics

30 July 2024 Morning Biz News: Namibia’s Aquatic Exports Rise Despite Decrease in Landings; TotalEnergies Withdraws from South African Gas Block

Namibia's Aquatic Exports Rise Namibia's export earnings from fish, crustaceans, molluscs, and other aquatic invertebrates reached N$4.1 billion in Q1 2024, a slight increase from N$4.0 billion in Q1 2023. Despite this, High Economic Intelligence (HEI) reports a 16.7% decrease in landings of quota species, down to 97,077 metric tons from 116,471 metric tons in the previous year. TotalEnergies Exits South African Offshore Gas Block TotalEnergies has announced its withdrawal […]

July 30, 2024 32

Africa

TotalEnergies Sells Minority Stake in Nigerian Onshore Oil JV for $860 Million

TotalEnergies has sold its 10% stake in the Shell Petroleum Development Company of Nigeria Limited to Mauritius-based Chappal Energies for $860 million says Reuters. CEO Patrick Pouyanne announced in February that TotalEnergies planned to exit the venture due to numerous oil spills caused by theft, sabotage, and operational issues, which resulted in costly repairs and high-profile lawsuits.

July 18, 2024 14

Africa

UK Court Dismisses P&ID Appeal And Upholds Nigeria’s £43 Million Award

A UK court has ruled in favour of Nigeria in an appeal filed by the Process & Industrial Development or P&ID challenging a previous ruling over what currency the payment of the legal costs incurred by Nigeria in a lawsuit involving the firm would be. This follows a judgment in December last year which dismissed an award of $11 billion damages to P & ID over a failed oil and […]

July 16, 2024 26

Africa

Nigeria offers oil blocks for bidding

Nigeria has announced 17 new oil blocks for bidding by investors. It brings the total blocks on offer by the country to 36 for the 2024 oil bid round. Tesem Akende reports from Jos.

June 19, 2024 14