Experts tell Namibia to wait before building an oil refinery. President Nandi-Ndaitwah wants the country's first oil plant, but many say private companies should lead this effort. Former oil official Imms Mulunga calls the idea good but very expensive, with small profits. He thinks Namibia should find oil first, and later consider a refinery if studies show it makes sense.
TotalEnergies boss Patrick Pouyanné warned the president against this plan last week. He pointed out that Namibia's market remains too small to compete with bigger countries. Energy expert Ibrahima Aminu agrees that Namibia needs to prove its oil exists before spending billions. He worries about financing such a huge project because Namibia attracts limited foreign money for energy.
Several companies already want to build refineries at Walvis Bay. Clasox Petroleum waits for approval to start construction with Bulgarian partner Plama Refinery. ISF Trading plans a 300,000 barrel facility that would process imported oil until local supplies grow. Namibia became famous for oil exploration after Shell, TotalEnergies, and Galp Energia made major discoveries along its coast.
TotalEnergies boss Patrick Pouyanné warned the president against this plan last week. He pointed out that Namibia's market remains too small to compete with bigger countries. Energy expert Ibrahima Aminu agrees that Namibia needs to prove its oil exists before spending billions. He worries about financing such a huge project because Namibia attracts limited foreign money for energy.
Several companies already want to build refineries at Walvis Bay. Clasox Petroleum waits for approval to start construction with Bulgarian partner Plama Refinery. ISF Trading plans a 300,000 barrel facility that would process imported oil until local supplies grow. Namibia became famous for oil exploration after Shell, TotalEnergies, and Galp Energia made major discoveries along its coast.
