Zambia Signs $20 Million One-Year Oil Deal

Zambia Signs $20 Million One-Year Oil Deal

THE Petroleum Transporters Association of Zambia (PTAZ) has concluded a one-year contract worth more US$20 million with Trafigura Oil Trading Company to transport oil into Zambia.

PTAZ spokesperson Benson Tembo said the local transporters were expected to transport 38 million litters of oil estimated at US$4.6 million into Zambia by October month end.

Mr. Tembo said at a media briefing in Ndola yesterday that the move would help enhance the economy because local transporters were engaged.

He said for a long time now, the Association had been negotiating with the past Government to come up with deliberate policies that would give opportunities for local transporters to be ferrying the oil but nothing was done. Mr. Tembo further said PTAZ has more than 40 members who have been allowed to transport oil adding that more members were welcome. He urged the local transporters to meet the standards and rise up to the challenge because they had been given an opportunity to prove themselves.

Mr. Tembo said the gesture should be embraced and supported by all well meaning Zambians as this would help contribute to the national economy.

Source: Times