Page 10 - AfrOil Week 39 2022

AfrOil PERFORMANCE AfrOil

Zimbabweans used 56mn tonnes

of LPG in 2021, top official says

AFRICA ZIMBABWE used 56mn tonnes of LPG in LPG due to unreliable electricity supply. The
2021, as electricity shortages drove consumers country produces an average of 1,200MW. This
to search for alternative fuel and energy sources, is not enough to meet demand, which amounts
an official has said. to as much as 1,800MW.
Andrew Gura, a senior petroleum engineer The Zambian delegation toured facilities
at Zimbabwe Energy Regulatory Authority run by one of Zimbabwe’s largest LPG retailers,
(ZERA), said that interest in LPG was on the Kensys Gas. In 2021, Zambia used about 8,000
rise. “Initially people were scared, but there is tonnes of gas, just 3,000 tonnes more than what
general acceptance of the gas as a transition fuel Kensys Gas retails monthly.
to close the gap from dirty fuel to clean energy “Zimbabwe, [and] ZERA in particular, has
and we need strategic stocks,” he was quoted as been our partner and we have a lot to learn,”
saying by the state-owned daily The Herald on commented Mafayo Ziva, the assistant director
September 22. “The demand is going up and last of Zambia’s Ministry of Energy. “We need to
year we peaked at 56mn tonnes.” learn and see how Zimbabwe has managed to
In an attempt to to ensure sustainable boost uptake.” ™
supplies of LPG, he added, the National Oil
Company of Zimbabwe (NOIC) is consider-
ing establishing LPG storage capacity of 2,000
tonnes by December 2023.
He said this while interacting with a Zambian
mission to Harare, Zimbabwe’s capital, to learn
how to accelerate LPG uptake.
Tarisai Chigunha, the business development
manager of NOIC, said that the state entity
could commission 500 tonnes of capacity by
March 2023, ramping it up four times by the
end of the year.
“We are studying both methods, whether
companies bring in their product or they can
trust us to do it on their behalf,” she said.
More Zimbabweans are resorting to using ZERA presentation on safe LPG use on September 22 (Photo: Twitter/@zeraenergy)

POLICY
DMO chief: Gasoline subsidies are main

driver of Nigeria’s swelling public debt

NIGERIA PATIENCE Oniha, the director general of Nige- government has arranged to borrow an addi-
ria’s Debt Management Office (DMO), said on tional NGN1 trillion ($2.32bn) this year in order
September 27 that domestic gasoline subsidies to cover the additional cost of gasoline subsidies.
were the primary cause of the ongoing rise in Oniha insisted, though, that Nigeria’s pub-
public debt. lic debt levels were sustainable and still within
Speaking during a presentation on budgeting acceptable limits. Currently, she noted, the
and fiscal transparency at the Army Resource country’s debt-to-GDP ratio is 23.06%, lower
Centre in Abuja, Oniha explained that Nige- than the figure posted by other oil-producing
ria’s public debts were being driven upward by countries such as Angola, with 136.54%; the US,
budget deficits. This year, she stated, deficits with 133.92%; the UK, with 104.47%; Ghana,
are larger than anticipated because the federal with 78.92%; and South Africa, with 69.45%.

P10 www. NEWSBASE .com Week 39 29•September•2022