Here are the seven firms bidding for a majority stake in Zambian oil refinery

Authors:

iyebiye olawuyi

March 19, 2018 1:54 PM

Zambian government is seeking for a strategic partner to work with Indeni Petroleum Refinery, the state’s sole oil refinery built in 1973

Zambian development agency said that seven firms have submitted bids to buy a majority in the nations sole 24,000 barrel per day Indeni Petroleum Refinery.

Mwila Kapita, a procurement specialist at the Zambia Development Agency stated this in a press statement released on the Agency'swebsite over the weekend.

Brief profiles of the companies that submitted bids:

1. Glencore Energy UK Ltd

Glencore Energy UK Ltd engages in the supply and sale of oil and soft commodities. The company is based in London, the United Kingdom. Glencore Energy UK Limited is a subsidiary of Glencore UK Ltd.

2. AVIC International Holding Corporation

AVIC International Holding Corporation operates in the aviation, electronics, hotel, trade and commodities, retail, and real estate and property sectors worldwide.

3. Vitol Group

The Vitol Group is a global energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger.

4. China Petroleum Technology & Development Corporation

China Petroleum Technology & Development Corporation (CPTDC) is a wholly-owned subsidiary of China National Petroleum Corporation (CNPC). It engages in the export of the petroleum equipment and materials and provides materials and equipment for CNPC's overseas projects.

5. Philia SA

Philia SA offers integrated commodities and oil trading, as well as acquisitions consulting services. The company provides upstream oil and gas, mid-stream, and downstream energy trading services.

6. Joint Stock Company Global Security of Russia

Joint stock company security technologies operates as a subsidiary of Russian Technologies State Corporation.

7. Sahara Energy Resources limited

Owned by Tonye Cole, Sahara Group, leading privately owned Power, Energy, Gas and Infrastructure Conglomerate established in 1996 with operating companies active in the downstream, midstream, upstream, infrastructure and power sectors. Sahara has presence in different locations including Africa, The Caribbean, Asia and Europe. The company is bidding alongside other consortium.

Bidders have been urged to expect feedback from the Industrial Development Corporation (IDC) in the next few weeks,” Moses Simbeye, senior portfolio analyst at the IDC said.

Indeni Petroleum Refinery, built in 1973, is Zambia’s sole oil refinery and Zambian government is seeking for a strategic partner to work with the Refinery.

The oil company is owned 100 percent by the Industrial Development Corporation (IDC) Limited.

Authors:

iyebiye olawuyi