Ministry of Mines and Energy

Load shedding in SA lowers Namibia’s supply

Load shedding in SA lowers Namibia’s supply

Staff Writer Electricity supply to Namibia is reduced by five percent in every subsequent stage, when load shedding occurs South Africa. Andreas Simon, senior public relations officer at the Ministry of Mines and Energy, stated that Namibia has two power import contracts with Eskom and that South Africa’s power challenges influence the amount of electricity it provides to its foreign clients. “We have a 100MW firm deal signed earlier this year. Under this contract if Eskom load sheds, then they curtail our supply according to the stage of load shedding in South Africa. When its stage 1 or 2 load…
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Namibia needs to be smarter when dealing with investors-Smith

Namibia needs to be smarter when dealing with investors-Smith

Martin Endjala Popular Democratic Movement (PDM) MP Nico Smit told the National Assembly yesterday that Namibia needs to be smarter when dealing with investors, who undertake mining activities in the country. Smit made this observation in the light of the recent oil and gas discoveries in the country that of late has the talk of the nation. Smit’s contribution was in support of the findings and recommendations by the Parliamentary Standing Committee on Natural Resources chairperson Tjekero Tweya. The report recommends that the Ministry of Mines and Energy review its ownership license and conduct regular monitoring on companies involved in…
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Fuel import bill spikes by 119.6%

Fuel import bill spikes by 119.6%

Tujoromajo Kasuto Higher international oil prices have manifested in the Namibian economy, as a higher bill for fuel, with the import bill now having skyrocketed by 119.6 percent to N$5.4 billion in the first quarter of 2022 compared to the first quarter of 2021. According to the Bank of Namibia’s Quarterly Bulletin for June 2022, this is due to higher international oil prices caused by the Russia-Ukraine war, as well as an increase in imported volumes, which put upward pressure on the import bill for mineral fuels. ‘’Mineral fuel makes up a substantial share of total imports and has been…
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All-time high fuel increases

All-time high fuel increases

Obrein Simasiku Namibian motorists will have to dig deeper into their inflation hit pockets to pay more for their full. Fuel pump prices have reached historic highs after the Ministry of Mines and Energy announced an exponential increase in fuel, whereby petrol will cost N$2.50 more and diesel is adjusted by N$1.50, effective 1 June. This will be an all-time high adjustment that will see pump stations at Walvis Bay shoot up to N$20.40 in petrol and N$21.43 diesel, which means across the country, it is estimated to cost over N$22 and N$23, respectively. The ministry recorded a huge under-recovery…
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Fuel prices have risen yet again

Fuel prices have risen yet again

Tujoromajo Kasuto The Ministry of Mines and Energy today confirmed fuel prices increase with petrol prices increasing by 50 cents per litre and diesel by 70 cents per litre. The will be effective as from Wednesday, 03 November 2021. The fuel pump prices in Walvis Bay will become N$ 14.95 per litre for petrol and N$ 14.88 per litre for diesel. The prices across the rest of the country will also be adjusted accordingly. Moreover, the ministry noted that the National Energy Fund (NEF) will cover the entirety of the under-recoveries recorded for the month of October 2021 on behalf…
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Energy ministry lifts licence moratorium

Energy ministry lifts licence moratorium

Staff Writer The Ministry of Mines and Energy on Tuesday announced the lifting of its temporary suspension on the issuing of fuel retail site and wholesale licenses. The Ministry last July effected the suspension, citing an oversupply of service stations in the country. The move was aimed at reviewing existing procedures and requirements for securing a fuel retail site and wholesale license. “The Ministry has reviewed the licencing procedures and requirements for granting fuel retail and wholesale licences, as provided for in the Petroleum Products and Energy Regulations, of 2000. This includes new application forms and conditions for the granting…
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Namibia hit by service station oversupply

Namibia hit by service station oversupply

Staff Writer The Ministry of Mines and Energy has temporarily suspended the issuing of fuel retail site and wholesale licenses citing an oversupply of service stations in the country. According to the ministry, the six month moratorium has been placed on new applications as it reviews existing procedures and requirements. “There has been a proliferation of licenses, especially retail, being issued without proper economic viability being carried out. We thus need time to institute more effective licensing procedures,” Mines minister Tom Alweendo told the Windhoek Observer. Namibian Oil Industry Association Secretariat Chief Executive Officer, Harald Schmidt said the ministry’s decision…
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