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Abu Dhabi's oil giant eyes bigger role in Zimbabwe's fuel market
45 mins ago |
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HARARE - The Abu Dhabi National Oil Company (ADNOC), ranked among the world's top dozen oil producers, has signalled plans to deepen its footprint in Zimbabwe's energy sector through expanded fuel supply.
The development followed a courtesy call by ADNOC executives on President Emmerson Mnangagwa at State House in Harare on Friday.
Chief Executive Officer Ahmad Bin Thalith underscored the strengthening ties between Zimbabwe and the United Arab Emirates, noting that ADNOC is already supplying refined products locally.
"We want to expand that opportunity and increase collaboration in Zimbabwe. Our aim is to supply diesel and gasoline products that consumers regularly use, while helping to secure the lowest possible retail prices," Mr Thalith said.
He credited Zimbabwe's ease-of-doing-business reforms for enabling ADNOC's smooth entry into the market, revealing that the company has already begun deliveries under an existing contract.
"We thank the President for ensuring the process was seamless. We bring opportunities for further investment and collaboration," he added.
Zimbabwe remains heavily reliant on imported fuel, most of which flows through the Feruka pipeline. The UAE is currently Zimbabwe's second-largest trading partner, a relationship now poised for further expansion through ADNOC's involvement.
The development followed a courtesy call by ADNOC executives on President Emmerson Mnangagwa at State House in Harare on Friday.
Chief Executive Officer Ahmad Bin Thalith underscored the strengthening ties between Zimbabwe and the United Arab Emirates, noting that ADNOC is already supplying refined products locally.
"We want to expand that opportunity and increase collaboration in Zimbabwe. Our aim is to supply diesel and gasoline products that consumers regularly use, while helping to secure the lowest possible retail prices," Mr Thalith said.
He credited Zimbabwe's ease-of-doing-business reforms for enabling ADNOC's smooth entry into the market, revealing that the company has already begun deliveries under an existing contract.
"We thank the President for ensuring the process was seamless. We bring opportunities for further investment and collaboration," he added.
Zimbabwe remains heavily reliant on imported fuel, most of which flows through the Feruka pipeline. The UAE is currently Zimbabwe's second-largest trading partner, a relationship now poised for further expansion through ADNOC's involvement.
Source - Byo24News
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