Staff Reporter
NAMIBIA has selected a TotalEnergies-led bidding group to supply the country’s bulk petrol and diesel requirements for three months from November to January, with the contract covering approximately 345 million litres of fuel and expected savings of about N$220.5 million.
Minister of Industries, Mines and Energy Modestus Amutse said the winning bid offered an average discount of 63.85 cents per litre, resulting in the estimated saving.
The contract will run for three months after Namibia decided earlier this month not to renew its exclusive fuel supply agreement with global commodities trader Vitol, which was extended through October.
The approximately 345 million litres to be supplied under the new arrangement will comprise mainly diesel.
“The ministry will continue to use open competition to buy the country’s fuel on the best possible terms without ever putting security of supply at risk,” Amutse said in a recorded video message.
Namibia’s main fuel suppliers include Namcor, TotalEnergies, Vivo Energy, Puma Energy and Nasan Energies.
The agreement comes as TotalEnergies continues negotiations with the Namibian Government on fiscal stability terms for its Venus offshore oil project ahead of a final investment decision.
Namibia is targeting its first oil production by 2030.
Picture for illustrative purposes only. Photo: Contributed
