The South African National Petroleum Company (SNPC) has been officially endorsed as South Africa’s new state-owned petroleum company.
First announced by South African President Cyril Ramaphosa in 2020, the establishment of the SANPC serves to streamline operations and improve efficiency within South Africa’s petroleum sector.
The SANPC merges the South African Gas Development Company, PetroSA and Strategic Fuel Fund into a single entity, and will now operate as a subsidiary of the Central Energy Fund Group of Companies.
Responsible for the strategic planning, coordination and governance of the country’s petroleum resources, the SANPC will forge strategic partnerships, innovate new technologies and develop essential infrastructure in the sector, carrying the broad mandate to acquire, generate, manufacture, market and distribute various forms of energy, including renewables.
