{"id":77341,"date":"2024-09-30T11:13:00","date_gmt":"2024-09-30T11:13:00","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability"},"modified":"2024-09-30T11:13:00","modified_gmt":"2024-09-30T11:13:00","slug":"ministry-of-mines-and-energy-assures-investor-stability","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability","title":{"rendered":"Ministry of mines and energy assures investor stability"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Namibia. <\/strong><\/span>The executive director of the Ministry of Mines and Energy, Penda Ithindi, has reassured investors that Namibia is committed to maintaining stability in the sector beyond the elections.<\/p>\n<p>Ithindi was addressing questions posted by the Windhoek Observer last week regarding the potential impact of the upcoming November elections on Namibia\u2019s oil and gas industry.<\/p>\n<p>\u201cNamibia is governed by the rule of law, and all decisions are made within the confinement of the law and by the Constitution. Namibia has seen change in leadership four times already, and no disruption has occurred during those times,\u201d he said.<\/p>\n<p>He assured that measures are in place to maintain investor confidence, including the emphasis on security of tenure for agreements in the industry.<\/p>\n<p>\u201cAs a country, we emphasise the security of tenure and will ensure that investors\u2019 confidence is retained with all agreements,\u201d he said.<\/p>\n<p>Ithindi did not specify any plans to sign a stability clause or similar agreements before or after the elections.<\/p>\n<p>Auditing and financial advisory company Deloitte defined the stability clause as a provision that enhances \u201ccertainty and predictability,\u201d which are essential for the success of long-term investment projects, particularly in the capital-intensive petroleum sector.<\/p>\n<p>Last year, NJ Ayuk, executive chairman of the African Energy Chamber, advised Namibian leaders to come up with or strengthen contracts in the oil sector to avoid delaying production.<\/p>\n<p>He advised that petroleum contracts should include what is known as a fiscal stability clause.<\/p>\n<p>He explained that such a clause would protect investors from adverse impacts resulting from legislative or regulatory changes, including new tax requirements.<\/p>\n<p>\u201cWhat matters is, in the end, the companies\u2019 return on investment would not be impacted by changes that occurred after their deal was finalized. For Namibia, a newcomer to oil and gas deals, adding a fiscal stability clause to petroleum contracts will be key to retaining the energy industry\u2019s intense interest,\u201d he said.<\/p>\n<p>He argues that this is a crucial step for retaining investor interest, especially in a sector where substantial financial commitments are at stake.<\/p>\n<p>Stability clauses are standard practice in countries like Guyana and Mozambique.<\/p>\n<p>Ayuk cautioned that failing to implement a fiscal stability clause could result in delays during contract negotiations with major players like Shell and TotalEnergies, potentially stalling project timelines.<\/p>\n<p>\u201cWhen a developing country fails to offer the clauses, they\u2019re giving oil and gas companies reason to limit investments there,\u201d he said.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/namibia\">Namibia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Namibia. The executive director of the Ministry of Mines and Energy, Penda Ithindi, has reassured investors that Namibia is committed to maintaining stability in the sector beyond the elections. Ithindi was addressing questions posted by the Windhoek Observer last week regarding the potential impact of the upcoming November elections on Namibia\u2019s oil and [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":77340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234,236,233],"class_list":["post-77341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ministry of mines and energy assures investor stability - Namibia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ministry of mines and energy assures investor stability\" \/>\n<meta property=\"og:description\" content=\"Africa-Press &#8211; Namibia. The executive director of the Ministry of Mines and Energy, Penda Ithindi, has reassured investors that Namibia is committed to maintaining stability in the sector beyond the elections. Ithindi was addressing questions posted by the Windhoek Observer last week regarding the potential impact of the upcoming November elections on Namibia\u2019s oil and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-30T11:13:00+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ministry of mines and energy assures investor stability\",\"datePublished\":\"2024-09-30T11:13:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability\"},\"wordCount\":420,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/09\/Hazrati1727682192.769903.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/ministry-of-mines-and-energy-assures-investor-stability\",\"name\":\"Ministry of mines and energy assures investor stability - 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