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Mitigating corruption in the oil sector requires stakeholders to work together: Alweendo

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Mines minister Tom Alweendo said to mitigate against corruption in the oil and gas sector and ensure that in-country value creation reaches ordinary citizens requires stakeholders to be transparent.  The minister said companies must be fair and transparent with their employment procedures, procurement processes and exercise oversight over the policy implementation.  Addressing a local content policy workshop to discuss the policy, Alweendo said the more transparency there is in operations, the high the chance of realising the objectives of the draft policy. He said the National Petroleum Local Content Policy could only work if the government, Namibians, entrepreneurs, international service providers, and oil companies pull together.  The local content policy defines the active participation of the Namibian workforce and entrepreneurs in the upstream oil and gas sector through training, employment and local procurement of goods and services.  Alweendo said it is one thing to have a well
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The Draft Upstream Petroleum Local Content Policy 2023

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Mines minister Tom Alweendo launched the Draft Upstream Petroleum Local Content Policy on 11 May 2023. Below is the full draft. 1 Introduction   The Government of the Republic of Namibia (GRN) recognises that the petroleum sector can become an important vehicle for economic development where good governance and policies exist.  However, the GRN also recognises that despite the possible benefits to the economy of such developments, petroleum resources do not automatically confer wealth on the people of the host nations where they are found.  Although the petroleum industry can generate much wealth, such wealth does not typically spread through the host nation's economy as readily as that created by other industries.  Petroleum resource extraction typically requires significant capital, technology, and expertise investments.  Namibia, as a host nation starting to develop its petroleum resources, lacks some or most of the instruments to undertake such investments (including, for examp
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