Namibia still keen on cheaper Indian fuel

Talks between Namibia and India regarding plans to source cheap fuel from the Asian country are still ongoing, The Brief can reveal.

Â Namibia’s Ambassador to India Gabriel Sinimbo told The Brief that negotiations are still ongoing, adding that they are promising.

“Such talks are still continuing, in particular unleaded petrol and diesel. It is a matter of securing oil at affordable prices, therefore we are hoping something good comes out of it in the future,” he said, declining to divulge any further details.

Equally, the Ministry of Mines and Energy spokesperson Andreas Simon said the government was still busy engaging.

Between 2021 and to date, Simon said government importation of fuel will reach 3.6 billion litres, of which each month 100 litres is procured at a landing cost of N$15.

Â Namibia is banking on its good bilateral relations with India, a development which saw India’s External Affairs Minister Subrahmanyam Jaishankar visiting the country to secure an alternative source for its fuel requirements to resolve high fuel prices in the country.

Namibia currently sources its fuel on the international market from wholesalers, prices of which are determined by the global prevalent prices at the time.

The countryâ€™s source markets are Singapore, Qatar, United Arab Emirates, Norway, United Kingdom, Nigeria and Ghana among others.

Fuel prices in Namibia are currently above N$19 more than double what was charged in 2021.

Â This comes as the Ministry of Mines and Energy announced Namibian petrol prices for June 2023 will remain unchanged while the price of diesel 50ppm will decrease by 80 cents per litre and that of diesel 10ppm will drop by 60 cents per litre.