Govt Signs Fuel Deal With Sakunda And Trafigura

Energy and Power Development Minister Joram Gumbo yesterday said Government has signed a deal with Sakunda and its partner Trafigura that will last from the next 12 to 18 months.

Gumbo said Sakunda and Trafigura gave Government 100 million litres of fuel upfront and will be getting 50 million litres of fuel a week from that deal. Gumbo said Government has also concluded deals with Independent Petroleum Group (IPG), Glencore, Engen and Total. Said Gumbo:

As Government, we have put in place some mitigatory measures and these mainly include a facility we are concluding with Sakunda and its partner Trafigura. The deal is already in motion and it will stand for the next 12 to 18 months. The draw down began last week and we were given 100 million litres upfront and it is one of the facilities that have resulted in the stabilisation being witnessed. We will be getting 50 million litres of fuel a week from that deal. To cover the gap left by Sakunda, there is the IPG deal, which became operational end of last week where we will be getting about 20 million litres per month . There are also other players, which are giving us their facilities for example Engen and Total have also come up with their facilities. The market is liberal and we urge those with similar facilities to come forward and present them to us. We welcome them.

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More: Herald