Maravi

Crude feedstock docks at Dar-es-Salaam port

Crude feedstock docks at Dar-es-Salaam port
By Joan Chirwa
Tuesday May 13, 2008 [04:00]

NINETY thousand metric tonnes of crude feedstock last Friday docked at Dar-es-Salaam port after financing of the consignment by PTA Bank. And five banks have expressed interest to provide long-term financing for the procurement of crude oil for Zambia. In an interview, energy permanent secretary Peter Mumba said offloading of the 90,000 metric tonnes of crude feed stock, financed by PTA Bank, was expected to begin yesterday.

This is the second time that PTA Bank has financed the procurement of crude feedstock for the country, and government is currently working on measures to find a long-term financer for the commodity.

“The ship carrying 90,000 metric tonnes of crude oil destined for Zambia docked on Friday and it will start offloading on Monday (yesterday),” Mumba said. “This consignment of 90,000 metric tonnes of crude covers a period of one and half months. Looking at the current reserves, Zambia has enough fuel stocks to cover for a good period of time.”

Mumba further said another consignment of 90,000 metric tonnes of crude feedstock was expected in next month, and this time, government wants a long-term financer to support its importation.

“We will have some more stock in June and government wants a long-term financer who will be picked after the bidding process to finance the next consignment. The tender was opened on Friday and we have five bidders, among them PTA Bank, Finance Bank Zambia, ZANACO and Citibank,” said Mumba.

Labels: DAR ES SALAAM, FUEL, OIL

posted by MrK @ 11:26 AM