Botswana Oil secures 90% petroleum products importation

Friday, March 29, 2024 | 6150 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.