Saturday, August 19, 2006

Oil and Gas: Zambia's oil marketing companies must stock oil for 15 days' supply

Zambia's Energy Regulation Board (ERB) has said it is illegal for oil marketing companies to ignore the laws that requires all the oil marketing companies to stock up petroleum in advance.

ERB communications officer Fred Hangandu told Zambia News and Information Service the companies are required to stock up 15 days before completely running out.

He said the closure of Indeni should not cause a crisis in the country because the companies in the country would have stocked 15 days before the closure of the sole refinery company in the Southern African country.

Indeni Oil Company, which is co-owned by French oil major Total and the Zambian government, is scheduled for closure next month for maintenance works.