Immanuel Mulunga, the suspended managing director of the National Petroleum Corporation (Namcor), is facing legal action over an alleged unpaid loan of N$50 000. The lawsuit […]
Portugal’s Galp Energia, the company that reported positive indications of hydrocarbons from an exploration well in Namibia’s Orange Basin, says it has invested more than N$7,2 billion towards upstream projects, including an exploration campaign in Namibia during 2023.
The management and financial issues currently facing the National Petroleum Corporation (Namcor) pose a significant risk to Namibia’s new-found oil resources, economist Robin Sherbourne says.
The National Petroleum Corporation (Namcor) says while it has engaged the government about the financial situation facing the company, it has not yet made a formal submission for a bailout.
The Cabinet turned down a proposal to bail out the National Petroleum Corporation (Namcor), which is in debt of over N$2 billion and faces potential liquidation.