South Africa has officially established its new state-owned oil corporation—South African National Petroleum Company (SANPC). The launch—which follows the merger of PetroSA, iGas and the Strategic Fuel Fund—signals the rise of an integrated oil company in South Africa, paving the way for greater accountability, efficiency and profitability in the country’s petroleum sector.

South Africa has taken a historic leap forward in reshaping its energy future with the official launch of the South African National Petroleum Company (SANPC) at The Maslow Hotel in Sandton.

Formed through the merger of iGas, PetroSA, and the Strategic Fuel Fund (SFF), SANPC is a new state-owned entity mandated to secure the country’s energy future, revitalise strategic infrastructure, and lead transformation across the oil and gas sector. The launch event brought together government leaders, private sector stakeholders, and energy experts for a comprehensive briefing on SANPC’s structure, strategy, and national importance.

Delivering the welcome address, SANPC Chairperson, Mr Sipho Mkhize, hailed the company’s launch as the realisation of a long-standing policy vision.

“Today we witness the birth of a new national energy champion—conceived from a policy commitment made by President Cyril Ramaphosa in 2020 to rationalise state-owned enterprises in support of economic development. This company is not just another state entity—it is a national asset. It embodies the government’s vision for an integrated, modernised and impactful energy sector,” said Mkhize.

He paid tribute to the teams who navigated the turbulent path to rationalisation, particularly the leadership of CEF Chairperson Ayanda Noah and the CEF executives, who worked tirelessly—despite the challenges of COVID-19—to fulfil Cabinet’s mandate.

“We owe our thanks to the women and men of character who led this journey, and to Minister Gwede Mantashe for his unwavering support,” Mkhize added.

In his keynote address, Minister of Mineral Resources and Energy, Mr Gwede Mantashe, outlined SANPC’s role as a Southern African petroleum champion, aligned with the country’s developmental goals.

“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,” said Mantashe.

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 Mr Godfrey Moagi presented SANPC’s vision as a resilient, forward-thinking energy player focused on value creation for the country.

“SANPC is committed to building a people-centred, future-fit energy company that drives investment, fosters regional partnerships, and contributes to South Africa’s economic transformation,” said Moagi.

“We are drawing on global lessons, such as those from Petrobras, while tailoring our approach to reflect South Africa’s realities and aspirations.”

The SANPC Chairperson further shared that strategic discussions are underway with the Ministers of Transport, Mineral Resources and Energy, Forestry, Fisheries, and the Environment to convert the Single Buoy Mooring (SBM) in Durban into a more flexible Multi-Buoy Mooring (MBM).

This move will support SANPC’s mandate to reduce dependency on international oil companies, ensure security of supply, and position SANPC as a state-owned independent terminal operator with equal berth access and robust system integrity.

“We are laying the foundation for a high-performing, agile and efficient energy champion—capable of delivering long-term value and securing our energy future,” concluded Mr Mkhize.

“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.”

The launch included a strategic briefing, the unveiling of SANPC’s brand identity. Attendees included senior government officials, energy executives, and media from across South Africa and the region.