South Africa has officially launched the South African National Petroleum Company (SANPC), a newly formed state-owned oil corporation created by merging PetroSA, iGas, and the Strategic Fuel Fund.

This bold move aims to transform the country’s petroleum sector by improving accountability, efficiency, and profitability.The SANPC is designed to support South Africa’s goal of creating a competitive, investment-friendly oil and gas industry while driving energy independence and economic growth.

“We made the decision to take three state-owned entities, merge them, and create an energy champion for the country,” said Gwede Mantashe, Minister of Mineral and Petroleum Resources.

“The issue for us is to focus on inclusive growth. This country can have between 5% and 8% annual growth if we use our oil and gas reserves. We have oil, we have gas, so we must exploit it.”SANPC CEO Mojalefa Godfrey Moagi highlighted the company’s priorities:

“The first thing we will focus on is economic transformation. Security of supply is our key mandate. The second issue is shareholder returns. Another mandate is energy transition, but we need to make sure we cover our bases first. When it is time for us to look at the transition, we need to do it in a responsible way.”

The company plans to optimize assets, reduce imports, and boost domestic fuel supply, contributing to national economic stability.

NJ Ayuk, Executive Chairman of the African Energy Chamber, added, “Energy security cannot be driven by external actors; it needs to be driven by home-grown solutions and that is why you need an SANPC. SANPC is ready for business and will act as a champion for South Africa.”

With this launch, South Africa aims to unlock its oil and gas potential while positioning SANPC as a key player in the country’s energy future.