SOUTH AFRICA
South Africa’s integrated national oil company launches
The South African National Petroleum Company (SANPC), an integrated oil company based in South Africa was officially launched in Johannesburg. This launch, followed the merger of PetroSA, iGas, and the Strategic Fuel Fund. SANPC has been established as a state-owned entity designed to streamline and consolidate South Africa’s petroleum assets, strategies, and operations.
“Today, we witness the birth of a new national energy champion, conceived from a policy commitment made by President Cyril Ramaphosa in 2020 to rationalize state-owned enterprises in support of economic development. This company is not just another state entity; it is a national asset. It embodies the government’s vision for an integrated, modernized, and impactful energy sector,” said SANPC Chairperson, Mr. Sipho Mkhize, while delivering his welcome address.
The three companies that merged, SFF Association, PetroSA, and iGAS, play complementary roles in securing and developing the country’s oil and gas sector. The SFF Association is a nonprofit company responsible for managing the nation’s strategic reserves of crude oil and petroleum products, ensuring energy security through storage and infrastructure projects. iGAS, the South African Gas Development Company, focuses on expanding natural gas infrastructure across Southern Africa, promoting gas as a reliable and cleaner energy source.
PetroSA, the National Oil Company and a subsidiary of the Central Energy Fund (CEF), operates across the whole oil and gas chain including carrying a line of lubricants. It leads upstream activities, such as exploration and synthetic fuel production, midstream operations, including gas processing and chemicals manufacturing, and downstream services, including trade, marketing, and fuel distribution.
“We are laying the foundation for a high-performing, agile, and efficient energy champion capable of delivering long-term value and securing our energy future. SANPC is open for business. We invite partners to join us in building integrated, innovative, and sustainable energy systems across South Africa and the entire Africa continent,” concluded Mr Mkhize. .