The South African National Petroleum Company (SANPC) was unveiled at The Maslow Hotel in Sandton
The state-owned entity is the result of a merger between iGas, PetroSA and the Strategic Fuel Fund (SFF), aiming to secure South Africa's energy future with the revitalisation of strategic infrastructure.
During the launch event, SANPC chairperson, Sipho Mkhize, defined the company as a "national asset" that has been the brainchild of the President Cyril Ramaphosa-led government. He informed that strategic discussions are underway with the Ministers of Transport, Mineral Resources and Energy, and Forestry, Fisheries and the Environment to convert the single buoy mooring (SBM) in Durban into a more flexible multi-buoy mooring (MBM).
This will reduce dependency on international oil companies while ensuring supply, making SANPC an independent terminal operator with equal berth access and robust system integrity.
The Minister of Mineral Resources and Energy, Gwede Mantashe, said, “This launch is a strategic intervention – SANPC will drive industrialisation, job creation and inclusive growth. It will manage our strategic oil reserves, rebuild our refining capacity, and ensure energy sovereignty while contributing to regional energy security.”
He emphasised the urgency of restoring South Africa’s refining capabilities and reiterated government’s support for SANPC’s efforts to restart the PetroSA GTL plant in Mossel Bay and revive the SAPREF Refinery in Durban.
CEO Godfrey Moagi acknowledged the majority state-owned Brazilian oil and gas company, Petrobras, as an inspiration behind SANPC’s vision while "tailoring our approach to reflect South Africa’s realities and aspirations”.
“SANPC is open for business. We invite partners to join us in building integrated, innovative, and sustainable energy systems across South Africa and the continent,” said Mkhize.