Presidential oil mandate a response to lethargy – Katti

Namibian investor in the oil and gas sector Knowledge Katti has thrown his weight behind the much-debated Upstream Petroleum Unit (UPU) and the Petroleum Amendment Bill, arguing that Namibia risks losing investor confidence and billions in potential capital if reforms are delayed.In a memorandum addressed to parliamentarians and national leaders, Katti defended President Netumbo Nandi-Ndaitwah’s decision to establish the UPU within the Presidency, describing it as a necessary response to institutional failures and slow decision-making in the petroleum sector.“The President did not create a problem by establishing the UPU. She responded to one,” Katti said in the document dated 7 May 2026.Katti argued that Namibia’s oil and gas sector has suffered from fragmented governance, investor frustration and insufficient institutional focus, despite major discoveries such as Venus-1, Graff-1 and Mopane.According to the memorandum, Namibia’s estimated 11 billion barrels of oil and 2.2 trillion cubic feet of natural gas place the country among Africa’s most promising frontier energy markets, but the country now faces stiff competition from nations such as Mozambique, Senegal, Tanzania and Côte d’Ivoire for international investment capital.Katti warned that prolonged political disputes around the UPU could undermine Namibia’s momentum.“Capital is not loyal. It flows toward clarity, stability, and speed - and away from uncertainty,” he stated.The memorandum also delivered a sharp assessment of the state-owned oil company Namcor, saying the company has suffered reputational damage and lacks the institutional capacity needed for Namibia’s production era. However, Katti stressed that the UPU should not replace Namcor, but instead help rebuild and oversee it more effectively.He further argued that the Ministry of Mines and Energy had become structurally overloaded by having to oversee both mining and petroleum under one portfolio, leading to delayed decisions and investor dissatisfaction.Katti also defended the appointments of former deputy minister Kornelia Shilunga and petroleum expert Carlo McLeod to lead the UPU, saying both possess sector knowledge and international experience.The memorandum maintained that placing the UPU under the Presidency would improve coordination between ministries and increase accountability through annual parliamentary reporting requirements proposed in the Petroleum Amendment Bill.Katti also referenced the long-delayed Kudu gas project as an example of how fragmented governance and lack of institutional focus have historically hampered Namibia’s energy ambitions.He urged lawmakers to focus less on institutional battles and more on issues such as local content policies, workforce training, environmental safeguards and preparing Namibians to participate in the petroleum economy.“I call on honourable members to support the passage of the Petroleum Amendment Bill,” Katti said, adding that Namibia’s oil discoveries have the potential to reduce poverty, improve infrastructure and create intergenerational wealth if managed properly.

Presidential oil mandate a response to lethargy – Katti

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Republikein 2026-05-11

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Presidential oil mandate a response to lethargy – Katti

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Republikein 2026-05-11

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