Namcor
Creating Value through Strategic InvestmentWriter: Emily JarvisProject Manager: Josh Hyland By adopting a strategy of consolidation to foster a stricter focus on financial performance and Namibia’s energy needs, NAMCOR is hoping to create value through the discharge of its mandate as the national oil company in a bid to remain sustainable during the oil crisis.Oil prices have dropped significantly while dealer margins and fuel levies in Namibia are on the rise, as NAMCOR’s Chairperson, Johannes Gawaxab alluded to in the Company’s recent annual report: “In every crisis innovation is born. The oil price has dropped significantly during the review period due to sluggish global growth, while Namibia is entering a period where it needs to make important decisions regarding its future energy needs and in particular regarding the development of the Kudu Gas-to-Power project.”Focusing on prioritising projects, operational excellence and governance, the Company is showing good progress consolidating its upstream and downstream activities while retaining a strong value proposition to its partners across various market sectors; including mining, construction, commercial road transport, manufacturing and agriculture.“NAMCOR’s operating environment remained rather challenging...with a decline in crude oil prices as a result of continued growth in global inventories. Our operations were also affected by the fall in oil prices. Global economic activity and volatility in exchange rates also added their fair share to some of the uncertainty in the current environment,” said Gawaxab.“ the country needs to make crucial investment decisions regarding its energy needs.”Kudu Gas-to-Power projectLeveraging its diverse range of skills and longstanding partnerships in the upstream segment, NAMCOR has placed…
