Oil
Namibia urged to accelerate upstream petroleum policy reforms
The African Energy Chamber has warned that regulatory delays could undermine Namibia's emerging oil boom.
Key points
- Namibia expects over 300,000 barrels per day to enter production by the mid-2030s.
- Major projects including Venus and Mopane are progressing towards final investment decisions.
- The proposed Petroleum Amendment Bill has faced public and political debate over regulatory oversight.
What happened
Namibia's upstream oil and gas sector is attracting significant international interest following major offshore discoveries, according to a recent report by the African Energy Chamber (AEC) and S&P Global Energy. Over 300,000 barrels per day of production are projected to come online by the mid-30s. Key developments include TotalEnergies' Venus project, which targets 150,000 barrels per day capacity and is pursuing a final investment decision, alongside appraisal drilling at the Mopane discovery.
International energy companies continue to expand their presence in the region. QatarEnergy acquired a 25 percent participating interest in PEL 82 from Chevron in November 2026, while bp secured a 60 percent interest and operatorship of three Walvis Basin licenses during the same month. Despite this activity, stakeholders have highlighted administrative hurdles as a risk to project momentum.
What comes next
The National Assembly approved the Petroleum (Exploration and Production) Amendment Bill in principle during its Second Reading on October 20, 2026. The legislation aims to restructure the regulatory framework by establishing an Upstream Petroleum Unit under the Office of the Presidency to handle licensing and compliance. While the government maintains that the changes will streamline approvals, opposition groups have raised concerns regarding the concentration of regulatory power.
AEC Executive Chairman NJ Ayuk stated that investors require greater regulatory clarity and faster decisions. The chamber has encouraged Namibia to adopt aggressive licensing strategies and transparent digital systems to maintain investor confidence as global deepwater competition intensifies.
Why it matters
For African energy markets, Namibia's trajectory highlights the delicate balance between fast-tracking hydrocarbon development and maintaining robust institutional oversight. As emerging producers across the continent seek to monetize offshore resources amid fluctuating global commodity markets—with Brent crude priced at 92.14 US dollars per barrel on November 11, 2026, according to US EIA data—regulatory efficiency remains critical for securing long-term capital investment and ensuring domestic economic benefits.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
1.3% of Namibia’s merchandise exports were fuels in 2024Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
