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Botswana Oil secures 90% petroleum products importation

Friday, March 29, 2024 | 5770 Views |

Filling station fuel pump PIC- DRIVING.ORG

Majority citizen owned companies will enjoy a 10 percent stake in the importation of petroleum products effective Monday, a move which is aimed at promoting effective citizen empowerment in an industry dominated by large, foreign multinational firms.

According to the Botswana Energy Regulatory Authority (BERA) Act, 2022 and the Botswana Energy Regulatory Authority (Importation of Petroleum Products Allocation) Order of 2023 , effective 1st of April 2024, only majority citizen owned companies will be allowed to import petroleum products.

This move will see state oil company, Botswana Oil (BOL) importing 90% of the country’s fuel, while majority citizen owned companies have the right to import the outstanding 10%.

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Botswana Oil secures 90% petroleum products importation

Majority citizen owned companies will enjoy a 10 percent stake in the importation of petroleum products effective Monday, a move which is aimed at promoting effective citizen empowerment in an industry dominated by large, foreign multinational firms.

Human rights are sacred

Bakgatla Ba Kgafela celebrate as Kgosi Kgafela’s charges are dropped

First Lady's office hosts second annual thanks giving ceremony

PSLE performance on upward trend

Bona Life tee-off Maruapula Loxion Golf journey

Cops arrest young man, seize dagga in Metsimotlhabe

Second Mogoditshane rape attack in two weeks

Suspected suicide behind Sir Seretse Khama Barracks

Human rights are sacred