Sunday, November 27Malawi's top news source
Shadow

NOCMA SECURES K46 BILLION FOR FUEL SUPPLY

Share news to your friends

The National Oil Company of Malawi (NOCMA) has secured a K46 billion loan from the Trade Development Bank to supply fuel in the country.

Deputy Chief Executive Officer for NOCMA, Hellen Buluma, made the announcement when the Minister of Energy, Ibrahim Matola, toured the fuel reserves at Matindi in Blantyre.

According to Buluma, the amount will help NOCMA to import 60 million litres of fuel which will cover two months.

“Currently there are over 500 fuel tankers that are on the way with fuel from Dar es Salaam in Tanzania,” said Buluma.

She has assured Malawians that the country has enough stocks of fuel that will last for months.

“We are safe for the next few months since we are bringing in more volumes of fuel,” added Buluma.

She further said NOCMA has also reserved additional fuel in Dar es Salaam and Beira ports.

Minister of Energy, Ibrahim Matola, said government is currently implementing reforms which among others include the expansion of the strategic fuel reserves.

“We want to make sure that there is enough fuel supply in the country in large volumes by among others utilising the use of Nacala Corridor once the project is complete by June this year,” said Matola.

Matola applauded NOCMA for making sure that fuel is available in the country.

Meanwhile, Buluma has disclosed that the capacity of fuel strategic reserves will be increased by an additional 60 million litres in all the regions with each region getting additional 20 million litres of fuel by 2024 at the value of K18 billion.

Currently, the country’s fuel reserves have a capacity of 60 million litres.

Related News
Dust Refusing to Settle for Martha Chizuma

Dust is refusing to settle for Anti-Corruption Bureau (ACB) Director Martha Chizuma as she has been taken to task to Read more

Nancy Tembo clarifies why the president is attending the meeting in America

Minister of Foreign Affairs Nancy Tembo clarifies why the president is attending the meeting in America. She says the president Read more

Malawi president under fire for family appointments to cabinet
Malawi president under fire for family appointments to cabinet

New 31-member cabinet includes six figures who are related to each other, although not to the president. Chakwera, 65, comfortably Read more

Zameer Karim accused of intent to defraud Ecobank

Businessman Zameer Karim is facing a charge of intent to defraud Ecobank over K850 million, which is connected to Police Read more

MWENYE KIDNAPPING SAGA: Mustak Chotia implicates Mr Dipak Jevant of Sealand Investments

Mr Mustak Chotia, the mafia who masterminded the kidnapping of Shayona Cement Managing Director has implicated Mr Dipak Jevant, Managing Read more

Malawi Police zero on Indian Community’s kidnapper ring leader: Lebanese lady Rola Nasr Eldinne involved

Kadadzera: We are still investigating The issue of kidnapping and attempts on Indian community in Malawi with evil intentions is Read more

Fear grips Malawi’s Asian community over attacks, kidnapping

                                        Read more

Mustaq Chotia Implicates Mr Dipak Jevant mastermind kidnapping Shayona Boss

Mr Mustak Chotia, the mafia who masterminded the kidnapping of Shayona Cement official has implicated Mr Dipak Jevant, Managing Director Read more

Oops! Batatawala’s Son On the Loose

The Anti Corruption Bureau ( ACB ) has arrested self styled Blantyre businessperson Lido Karim also known as Batatawala two Read more

Bon Kalindo Hits Back on Onjezani Kenani over Britain Interference on Malawi Security

Fearless human rights activist and freedom fighter Bon ‘Winiko’ Kalindo has hit back at self-styled social media influencer Stanley Onjezani Read more

Leave a Reply

Your email address will not be published. Required fields are marked *