President Ramaphosa Launches State-Owned South African National Petroleum Company

The formation of the South African National Petroleum Company follows cabinet approval in June 2020 of a request by the Department of Mineral Resources and Energy to merge three subsidiaries of the South African government’s Central Energy Fund (CEF).

President of South Africa Cyril Ramaphosa announced the formation of the South African National Petroleum Company (SANPC) through the merger of three key subsidiaries of CEF: iGas, PetroSA, and the Strategic Fuel Fund. This event comes at a critical time for South Africa, as the country grapples with energy challenges that require innovative solutions and strategic partnerships, he emphasized.

The SANPC aims to ensure energy security, drive innovation, develop infrastructure, and contribute to South Africa’s economic and social growth, Ramaphosa said.

“The SANPC represents a significant milestone in our journey towards energy security. With the combined expertise and resources of iGas, PetroSA, and the Strategic Fuel Fund, the SANPC will be instrumental in driving innovation, building critical infrastructure, and fostering partnerships that will propel South Africa’s economic and social development,” the president noted.

This move is part of President Ramaphosa’s broader plan to streamline state-owned enterprises for better economic development. The SANPC will oversee the strategic planning, coordination, and management of South Africa’s petroleum resources.