Malawi has finally commissioned its fuel reserves which will help to reduce the impact of fuel scarcity especially at the time the country faces problems importing the commodity.
Government constricted the reserves through the National Oil Company of Malawi (NOCMA).
NOCMA Public Relations Officer, Telephorus Chigwenembe said the reserves have a combined storage capacity of 60 million litres, giving Malawi a two month fuel cover.
“The reserves will ensure that there is continuous availability of fuel in the country. The reserves were constructed by Government of Malawi with a loan from Exim Bank of India,” he said.
Lilongwe and Blantyre reserves will each have 25 million litres capacity while Mzuzu’s capacity is 10 million litres, and they will be managed by NOCMA which is wholly owned by Government.
Registered in 2010, NOCMA’s mandate is to manage the country’s Strategic Fuel Reserve facilities, promote competition in the oil and gas industry and to promote oil and gas exploration activities in order to ensure stability and security of supply of liquid fuel and gas products.