Botswana to Take Steps for Optimising Use of Fuel as Reserves Plummet

(3 Minutes Read)

The minister said the pricing of petroleum products also required urgent attention to ensure a conducive business landscape. Kenewendo noted the potential for doing business in the oil and gas sector as long as there were actions to unlock it.

Botswana’s national oil security shortfall must be addressed as a priority, as the current reserves can last only 15 days of national consumption against the preferred minimum of 60 days. This was indicated by the Minister of Minerals and Energy, Bogolo Kenewendo, during a stakeholder consultation workshop between the ministry and the oil and gas sector.

Kenewendo said the shortfall exposed the Botswana economy to supply risk as the country was not producing or processing oil domestically. Minister Kenewendo said the government was already taking measures to address the matter. She said between NDP 9 and NDP 11, the government implemented some industry reforms, which established Botswana Oil and later gave the entity an import allocation.

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The minister said the pricing of petroleum products also required urgent attention to ensure a conducive business landscape.Kenewendo noted the potential for doing business in the oil and gas sector as long as there were actions to unlock it.