Economy

Kuwaiti Company Looks to Nab Oil Supply Contract to Zambia

Kuwait’s Independent Petroleum Group Company (IPG) is among ten international firms, including Glencore, which have tendered to supply oil to Zambia for a period of two years starting this year, it was announced at the weekend.

Zambia in February invited tenders for the supply of 1.4m tonnes of oil after the expiry of a contract with Glencore under a two-year arrangement from March 2010.

Hazel Zulu, the Zambia Public Procurement Agency spokeswoman said Mercury Energy Trading, Agipol Africa Limited, Gunvor and Crown Hill Investments Limited had also put in bids.

Others also included KenolKobil, Trafigura, Vitol and Addax Energy, she told Reuters.

Source: Reuters

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