Parliament, Tuesday, 21 April 2026 – The Portfolio Committee on Mineral and Petroleum Resources has welcomed the comprehensive briefing it received from the Department of Mineral and Petroleum Resources on the South African National Petroleum Company Bill [B2–2026], which is currently before Parliament.
The committee received an overview of the Bill, which seeks to establish the South African National Petroleum Company (SANPC) as a state-owned entity aimed at strengthening the country’s energy security and strategic participation in the petroleum sector.
The Bill outlines several key objectives that include enabling SANPC to actively participate in petroleum exploration and production, enter into concession agreements with other governments and strategic partners, and acquire interests across the petroleum value chain—ranging from refining and storage to marketing, aggregation, and trading of petroleum products.
Furthermore, the Bill sets out SANPC’s governance framework, including the composition and functions of its Board, management structures, financial arrangements, and the appointment of key executives such as the Chief Executive Officer and Chief Financial Officer.
It also makes provision for transitional arrangements to facilitate the transfer of assets and personnel from iGas, the Strategic Fuel Fund (SFF), and PetroSA into the new entity, the South African National Petroleum Company (SANPC).
Welcoming the presentation, the Chairperson of the committee, Mr Mikateko Mahlaule, said: "The department’s presentation laid a solid foundation for committee’s legislative process going forward, which will include public consultations and clause-by-clause deliberations.”
Mr Mahlaule further highlighted the strategic importance of the Bill, saying that it presents an opportunity to consolidate state capabilities within the petroleum sector to enable a more coordinated and commercially viable approach to exploration, production, and infrastructure development.
In due course, the committee will draft a programme to process the Bill further, which will include invitation of public submissions as part of Parliament’s commitment to participatory democracy.
ISSUED BY THE PARLIAMENTARY COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF THE PORTFOLIO COMMITTEE ON MINERAL AND PETROLEUM RESOURCES, MR MIKATEKO MAHLAULE.
For media inquiries, please contact the committee’s Media Officer:
Name: Justice Molafo (Mr)
Parliamentary Communication Services
Cell: 081 424 7481
Email: jmolafo@parliament.gov.za
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