South Africa has launched the South African National Petroleum Company (SANPC), a new state-owned oil firm formed through the merger of PetroSA, iGas, and the Strategic Fuel Fund. The SANPC aims to enhance accountability, efficiency, and profitability in the petroleum sector. It aligns with government goals to promote energy independence, attract investment, and unlock the country’s oil and gas resources. Minister Gwede Mantashe emphasized the company’s role in boosting inclusive economic growth, noting the country’s untapped oil and gas potential. The move comes amid efforts to stabilize the fuel market and increase domestic energy supply.
SANPC CEO Mojalefa Godfrey Moagi outlined the company’s strategic focus on economic transformation, fuel supply security, and shareholder returns, while committing to a responsible energy transition. A key priority is identifying and repurposing non-functioning assets for effective use. As a subsidiary of the Central Energy Fund, SANPC aims to reduce fuel imports, strengthen the national economy, and accelerate key projects through regional and international partnerships. NJ Ayuk of the African Energy Chamber emphasized the importance of SANPC as a home-grown solution to South Africa’s energy security.
