Namibia and Angola oil deal scrapped

Amid fuel price increases, the Namibian government has said that proposed talks to import crude oil from Angola have been terminated.

Speaking to The Southern Times, Namibia’s Minister of Mines and Energy, Tom Alweendo said: “There was never a Namibian-Angola deal. There were discussions with Angola to buy Angolan crude oil and have it refined somewhere. It did not materialize. There is nothing being discussed currently.”

In 2013, then Minister of Mines and Energy of Namibia, Isak Katali, held talks regarding oil refining, the construction of a storage terminal and negotiations on a memorandum of understanding. However, since then no progress has been made.

With fuel prices constantly increasing, Namibia continues to spend millions per month on fuel imports which are carried through by Engen, Total, Shell and Puma.

Addressing the price increases, the minister said the inflation had been due in part to the global oil price and the exchange rate between the Namibian dollar and the U.S. dollar.

Endorsed by the Ministry of Mineral Resources and Petroleum, Africa Oil & Power will organize the first Oil & Gas conference, which will be held on June 3-7, 2019 in Luanda.  Registration is now open.