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Zimbabwe to set up billion dollar oil, gas refinery

by Staff reporter
19 Sep 2019 at 17:40hrs | Views
A US$1 billion oil and gas refinery is to be set up in Zimbabwe to complement Government's efforts in finding a long-term solution to high fuel prices, ballooning fuel bill and shortages.

The Oil Refinery is expected to refine about 2.1 million litres of Petrol a day and will reduce the cost of fuel by a drastic percentage.
Minister of Energy and Power Development, Advocate Fortune Chasi stated that the project presented an opportunity for addressing the current fuel deficits, as well as employment operation and great potential for earning the country with the much needed foreign currency.

The refinery is to also produce naptha, kerosene, diesel, fuel oil and elementary sulfur.

The CEO of the project stated that the oil refinery will also create business opportunities for firms that were awarded licenses to explore for oil and in various parts of the country.

He also said, "Zimbabwe will benefit in several aspects for example, direct and indirect effect on local employment, substantial technological transfer, reduction in the cost of petroleum products, provision of raw materials in agriculture, and the increase in export opportunities,".

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Source - zbc