Page 14 - AfrOil Week 28 2022

AfrOil POLICY AfrOil

However, he insisted that the country’s gov- minimise environmental degradation.”
ernment had taken the necessary precautions. Kavango East’s Governor Bonifatius
He also noted that Namibia’s Parliamentary Wakudumo, who also attended the minis-
Standing Committee on Natural Resources had try’s information session, echoed Alweendo’s
endorsed ReconAfrica’s plans and pointed to remarks about criticism from outsiders. “I hum-
the legal protections afforded by the Namibian bly request the various organisations: Please,
constitution. you cannot come today and lecture us about the
“On the environmental issue, environmen- environment. We fought for this country to lib-
tal management is part of our constitution. It is erate ourselves and put policies and mechanisms
probably the only country that has the protection in place as to how we can preserve our natural
of the environment as part of the constitution. resources,” he was quoted as saying by New Era.
Apart from the Environmental Management “We don’t need to be told and to be lectured by
Act as a law, that is in our constitution where we anybody in whatever capacity.”
say we need to make sure that whatever it is that ReconAfrica is exploring two sections of the
we are going to do, we should not destroy the Greater Kavango basin – PEL 73, which covers
environment,” Alweendo commented. an area of 25,500 square km in north-eastern
“And the rules of the game are that whoever Namibia, and PEL001, an adjacent block in
is going to do the exploration, whether it is north-western Botswana that covers an area of
Recon or any other mining company, they need 9,921-square km. It has already carried out seis-
to make sure that they do have an environmen- mic work at the Namibian block and has also
tal management plan on how they are going to drilled two exploration wells there. ™

Tanzania raises cap on fuel prices

TANZANIA TANZANIA’S Energy and Water Utilities Regu- Developments in Tanzania are in line with
latory Authority (Ewura) announced that it was global trends. Gasoline and diesel prices have
raising the upper limit on pump prices for motor been rising around the world due to the resump-
fuel in a statement on July 6. tion of economic activities after the coronavirus
In the statement, the regulator said the cost of (COVID-19) lockdowns and the imposition of
gasoline would be capped at TZ3,220 ($1.38) per sanctions on Russia, a key crude oil producer, in
litre in Dar es Salaam, up from TZ2,994 ($1.28) response to the latter’s invasion of Ukraine. Nev-
last month, while the price of diesel would be ertheless, Ewura’s policy change is likely to draw
capped at TZ3,143 ($1.35), up from TZ3,131 a negative reaction from local consumers, who
($1.34). These are the highest price ceilings ever are already under pressure because of previous
set, despite the fact that Tanzania’s government price rises for these vital commodities.
is still paying out subsidies to keep retail prices Tanzania’s government has tried to blunt the
below world market levels. impact of rising fuel prices. In May of this year,
“Oil marketing companies are free to sell Energy Minister January Makamba, acting at
their products at a price that gives them a com- the behest of President Samia Suluhu Hassan,
petitive advantage, provided that such price announced a TZ100bn ($43mn) subsidy for fuel
does not exceed the price cap,” Ewura said in a prices that brought costs down by about TZ300
statement. ($1.3) per litre for petrol. ™

PROJECTS & COMPANIES
Kyari says NNPC Ltd will be capable of

competing with private-sector companies

NIGERIA NIGERIAN National Petroleum Company Speaking to private oil companies on July
(NNPC) will fiercely contend for the oil and gas 5, during the 21st Nigeria Oil and Gas (NOG)
assets in the country when it turns into a com- Conference and Exhibition, Kyari noted that the
mercial entity later this month, CEO Mallam NNPC would fight for the most profitable assets
Mele Kyari said. in the country.

P14 www. NEWSBASE .com Week 28 13•July•2022