Economy

Increase Petroleum Product Reserves – Kambwili Urges

National Democratic Congress (NDC) party leader Chishimba Kambwili has called on the government to increase petroleum product reserves as the US-Iran tensions have the potential to negatively affect the country’s fuel supply and pump prices.

Mr. Kambwili has urged the government to consider putting up necessary measures so that the country can have enough fuel reserves and not suffer the “great consequences” from the tension between the two countries.

“In the aftermath of Iranian attacks on two U.S. military bases in Iraq known to house 1,500 US troops, the price of crude oil jumped four per cent to about US$65 a barrel. Saudi Arabia, Iraq and Iran produce about 25 per cent of the world’s oil supply, and further retaliation from the US will send prices soaring,” Mr. Kambwili said in a statement issued by NDC spokesperson Saboi Imboela.

“Reports suggest that if a full-blown conflict happens, we will see similar events such as what we saw within Iraq when the United States went in there, and potentially oil prices will rise in excess of $100 a barrel. As the National Democratic Congress (NDC) party, in such times of escalation, economic stability is paramount and, therefore, deeply urge the Patriotic Front, PF, government to consider putting up necessary measures so that the country can have enough fuel reserves and not suffer the great consequences [emanating] from the US-Iran tensions.”

He said that Indeni refinery needs recapitalisation with new technology to ensure that at least 80 per cent of petroleum products consumed in the country are made by Indeni Oil refinery.

Mr. Kambwili said the increase in population and demand for petroleum products required the construction of new oil refineries “especially in Western Province so as to import more crude oil from West African countries, Angola and South America”.

©Zambia Reports 2020.

21 Comments

  1. Lively Hope

    That Is True Mr. Kambwili

  2. Herv Rena

    Surely kambwili,do you think this govt has got enough foreign exchange reserves to do that?Theirs is a hand to mouth kind of game.

    • Lucious

      Now if that’s what you think,,,,what’s the best way you think the country if Iran had war with America where do you think we would be getting petroleum products

  3. Tembo Francis

    Awe Ba Ck Nabakula Nomba.See The Point Being Raised Very Substantial,

  4. Mano M'mafupa

    That’s what a democratic leader should behave. Keep it up Dr. CK

  5. Dr Fonicks

    Thumbs up Dr. Kambwili !!! This is the spirit we need in times of hardships. This is constructive criticism. Continue with such, you will win hearts of some Zambians.

  6. Policeman

    Good observation,I will talk to mr lungu,we are together

  7. UMWAUME PABAUME

    Like this ck you will have my vote thinking too well, I salute you sir.

  8. Brian Chewe

    Dr CK, you’re thinking very well that’s good and am sure if you continue this… Am gonna give you my voter

  9. Enock chella

    Comment This is the way to go keep this up mr kambwili we are listening.

  10. Zed

    Nice talk boss

  11. Sibweni

    Mideast tension or war a reason 4 fuel hikes yet govt use a dollar as the cause. Dr kambwili observation is timely and let govt get the advise the good of our economic and more reservior and new refinerly in western zambia mainly ANGOLA

  12. SEE MIND

    OK CK , GOOD IDEAS. BUT NOW YOU BUILD YOUR NEW MIND, NOT INSULTS AGAIN !

  13. Medhone

    Thanks ba ck. this country is for all of us zambians and not only the presdnt . may other political party leaders emulate ba ck. this is very advice keep it up

  14. Hon DM

    Well spoken Ba ck.

  15. PETER LUNGU

    Well spoken ba CK this is positive thinking.

  16. Lucious

    That’s perfect thinking Mr D.C

  17. umuntu

    ba ck u are now talking sense i like it not insele pa nsele i hope its not because of the rumours we ar hearing

  18. S g

    This is good ba ck may you continue to do that, may GOD continue giving you wisdom

  19. Prince

    Mr kambwili president of N.D.C party do we it, not talking how many presidents in niagara

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