Oil Industry

Government to hold regional outreach on upstream local content policy

Starting 1 September , the Petroleum Upstream Unit will engage stakeholders on the draft National Upstream Local Content Policy. Carlo McLeod, Presidential Special Advisor, says the program aims to guarantee that local citizens benefit from the oil and gas sector.

28 August, 2025

Namibia

Mulunga Accused of Concealing N$53m Fuel Deal.

Anti-Corruption Commission lead investigator Oberty Inambao has alleged that former Namcor managing director Immanuel Mulunga hid the full details of a N$53 million fuel asset transaction with Enercon from the company’s board, even though he was fully aware of the deal, according to NewsOnOne’s Envaalde Matheus. The transaction is linked to a larger N$480 million corruption scandal involving several entities.

6 August, 2025

Business / Economics

PETROFUND Backs Youth Oil & Gas Summit in Walvis Bay.

The Petroleum Training and Education Fund has thrown its weight behind the upcoming Youth in Oil and Gas Summit, happening from 24 to 25 July in Walvis Bay. Under the banner “Drilling into the Future: Empowering Youth in the Oil and Gas Revolution,” the gathering aims to equip young people with key skills and industry knowledge. PETROFUND spokesperson Shoki Kandjimi:

15 July, 2025

Business / Economics

August Oil and Gas Conference to Drive Alignment

The third Oil and Gas Conference, happening from 12 to 15 August , will unite industry players, government, and partners to focus on aligning the sector with national development plans during the shift from exploration to production. Jason Kasuto is the Chairperson of the Economic Association:

11 July, 2025

Business / Economics

NAMCOR Completes Drilling of Sagittarius-1X Well

The National Petroleum Corporation and its partners have completed drilling the Sagittarius-1X exploration well in Block 2914 of the Orange Basin. NAMCOR’s Manager of Marketing, Communications, and Public Relations, Paulo Coelho: indicates that drilling began on 18 December 2024 using the Noble Venturer drillship and reached total depth on 6 February 2025.

19 February, 2025

Business / Economics

Oil giant Chevron slashing up to 20% of its global workforce

Mass layoffs coming to Chevron. The oil major says it's slashing up to 20% of its global workforce as part of a cost-cutting effort. It's the last oil and gas company to cut headcount among lower prices. Toni Waterman has more.

13 February, 2025

Business / Economics

TotalEnergies revises Venus oilfield production target

TotalEnergies has delayed its final investment decision on its offshore oil project in Namibia, with a new target set for 2026, according to CEO Patrick Pouyanne. The company has also adjusted its production forecast for the Venus oilfield, now aiming for 150,000 barrels per day, down from the previous expectation of 160,000 barrels per day, following updated projections shared at its investor day in October. According to Reuters, […]

7 February, 2025

Business / Economics

Shell’s challenges may reflect wider issues for oil drilling companies

Shell used the Deepsea Bollsta rig, formerly known as West Bollsta for its drilling campaign in Namibia's Orange Basin; Source: Odfjell Drilling Energy lawyer Shakwa Nyambe has cautioned that the challenges Shell is facing in the Orange and Walvis Basins may soon affect other oil drilling companies operating in these regions. His remarks follow the UK-headquartered energy giant's recent write-down of US$400 million in the Orange Basin. Speaking to […]

13 January, 2025