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Share Name | Share Symbol | Market | Type |
---|---|---|---|
TotalEnergies SE | BIT:TOT | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
Zambia's sole petroleum refinery will be closed down on Oct. 15 to allow management carry out annual maintenance works, the permanent secretary at the ministry of energy and water development said Wednesday.
Peter Mumba said the Indeni refinery, which processes 20,000 barrels a day, is expected to reopen after two weeks. In the past, it would remain closed for up to a month for maintenance works.
Indeni is the main supplier of fuel products to Zambia's copper and cobalt mines on the Copper Belt and North Western province.
Mumba said the government has asked oil marketing companies to increase imports of refined petroleum products as a precaution against possible fuel shortage during the closure.
However, he added that the refinery would stock enough products to supply its customers during the closure.
Indeni is jointly owned by the Zambian government and France-based Total SA (TOT).
Zambia has experienced fuel shortages due to unplanned closures at Indeni refinery. The government and Total are seeking a strategic partner to recapitalize the aging refinery, which requires a complete overhaul, estimated to cost $60 million.
Copper mines consume over half of the fuel produced by the refinery.
-By Nicholas Bariyo, contributing to Dow Jones Newswires; +256 75 262 4615; bariyonic@yahoo.co.uk
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