Zambia to streamline oil industry.

Position::Business Briefs - Brief Article - Statistical Data Included
 
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Zambia's oil industry is to be streamlined with a $50m loan from the World Bank, a move that will also soften the impact of world price increases on ordinary citizens. Part of the funding will improve operations on the Tanzania-Zambia Pipeline (Tazama), owned jointly by Zambia and Tanzania. Zambia's motorists and transport fleet operators are constantly squeezed by fuel prices that top $1 a litre, half of which is government tax.

Zambia uses some 600,000 tons of fuel a year, much of it for the copper mining and cobalt industries.

High fuel prices are a...

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