National Petroleum Corporation responds to reports of Cabinet Rejected its bailout proposal

Cabinet has Rejected NAMCOR’s bailout proposal. They say there have been informal and formal engagement with shareholder ministries such as the Ministry of Finance and Public Enterprises and the Ministry of Mines and Energy on the company’s financial health, no formal submission has been presented to the Cabinet. As such statements suggesting that the Cabinet has rejected NAMCOR’s proposal are factually incorrect and misleading. Here is NamCor’s Manager Of Marketing, Communications, and Public Relations, Paulo Coelho.