Hinda-Mbuende slams Vitol fuel deal
Former Namcor acting managing director Maureen Hinda-Mbuende has criticised the government’s decision to award international oil trader Vitol through its subsidiary Vitol Bahrain E.C a N$7.2 billion deal to supply Namibia with fuel for three months. Hinda-Mbuende’s comments come at the same time as claims from industry players that the state-owned oil company offered a cheaper deal than Vitol’s, which will now supply fuel to Namibia for N$2.4 billion a month. Industries, mine
Maureen Hinda-Mbuende, former acting managing director of Namcor, has voiced strong criticism regarding the government's decision to award an N$7.2 billion fuel supply contract to Vitol Bahrain E.C. She argues that the three-month deal, which designates Vitol as the sole supplier, will negatively impact the long-term competitiveness of Namibia's downstream fuel sector. Hinda-Mbuende expressed concerns that Vitol could leverage its import business to gain an unfair advantage in the retail market through its subsidiary, Vivo Energy, which operates Shell and Engen stations. She described the arrangement as a "monopoly disguised under the face of fuel security."
The decision to grant an exclusive fuel supply contract to Vitol, despite claims of a cheaper offer from the state-owned Namcor, raises questions about fair competition and potential monopolistic practices within Namibia's energy sector.
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