The African National Congress (ANC) said on Friday that the launch of the South African National Petroleum Company (SANPC) has positioned South Africa to harness its natural resources, reduce dependency on imports, and retain greater value from the country’s mineral and energy wealth.

Last week, government launched the SANPC, which is the merger of PetroSA, iGas and the Strategic Fuel Fund.

ANC national spokesperson Mahlengi Bhengu-Motsiri described it as “the birth of a strategic national asset with the potential to redefine South Africa’s energy future and industrial trajectory for generations to come”.

She pointed out that the SANPC had been created to “shape the future” of South Africa’s energy security, industrialisation agenda, technology adoption and economic transformation, and to also play a central role in the full petroleum value chain, from exploration and production to refining, storage, and distribution.

Bhengu-Motsiri said the party saw this launch as more than an institutional milestone.

“…it is a concrete expression of our commitment to building a capable State that drives economic transformation. It affirms our belief that the State must lead in strategic sectors to ensure that national development objectives are met, and that the benefits of our resources are shared among all South Africans,” she said.

She pointed out that the youth stood to benefit from the merger through targeted training programmes and employment opportunities from renewed exploration activities, infrastructure expansion, and downstream operations.

“Communities located near strategic energy sites will also benefit from local procurement, development projects, and empowerment initiatives,” she added.

Bhengu-Motsiri pointed out that as a State-owned entity, SANPC would be instrumental in unlocking investment, building strategic infrastructure, and enabling South Africa to fully participate in the local and regional energy markets.

“This achievement is a direct response to the ANC’s manifesto commitment to industrialise the South African economy. Through the work of the SANPC, new industries will emerge, jobs will be created, and skills will be developed across the petroleum and energy sector,” she explained.

She noted that the company’s mandate extends beyond traditional oil and gas, and includes a strategic focus on energy security, environmental sustainability, and the exploration of new minerals critical to the global transition to cleaner energy.

“…by investing in innovation, beneficiation, and the local processing of key energy minerals, SANPC will support the development of new value chains that are essential to South Africa’s future competitiveness,” Bhengu-Motsiri stated.