Announced on September 18, the South African National Petroleum Company (SANPC) was formed through the merger of three subsidiaries of the South African government’s Central Energy Fund: iGas, PetroSA, and the Strategic Fuel Fund (SFF).

It aims to ensure energy security, drive innovation, develop infrastructure and contribute to South Africa’s economic and social growth.

This move is part of President Ramaphosa’s broader plan to rationalize state-owned enterprises for better economic development. The SANPC will oversee the strategic planning, coordination, and management of South Africa’s petroleum resources.